Thyssenkrupp Wins Major Contract for New Chemical Complex in Hungary

Thyssenkrupp, Industrial Solutions Business Area, has secured a major contract for the construction of an integrated chemical complex in Hungary in the field of plant engineering and production. The client is MOL Group, a leading oil and gas company headquartered in Hungary. Engineering, procurement and construction (EPC) contracts for the facility complex were signed on 12 September 2018 in Budapest. MOL Group will invest approximately EUR 1.2 billion in the new facility complex. This project is part of MOL's MOL 2030 growth strategy, which aims to create new value-added chains in the petrochemical sector. The complex, which will begin operations in 2021, will produce 200,000 tonnes of polyether polyol annually. This intermediate product is used as a base material particularly in the automotive, construction, packaging and furniture sectors. With this facility, MOL will become the only integrated producer of polyether polyol in Central Europe.