Hungarian Refiner Mol Unveils $1.4 Billion Petrochemicals Plant

Hungarian refiner Mol Nyrt inaugurated its $1.4 billion polyol plant, describing the facility as a long-term investment that will ride out an initially unfavorable market.

The plant in the eastern Hungarian town of Tiszaujvaros is a key part of the refiner’s planned pivot away from oil processing toward petrochemicals production. Though the chemicals industry has seen a period of lackluster margins in the face of stalling economies and high energy prices, Mol said the project will prove its worth as the global economy starts to pick up.