TISZUJVAROS, Hungary—Petrochemical company Mol Group marked the next step in its plan to make polyols, laying the foundation for an expansion that will allow it to control the entire value chain from crude oil extraction to polyol production, according to Chairman Zsolt Hernadi.
The expansion, a $1.3 billion investment is the company's biggest to date, and will result the construction of a new facility with an annual capacity of 200,000 metric tons of polyols. The Hungarian government also supported the expansion with a $144 million investment.
Mol expects the facility to contribute $165 million annually to its EBITDA.
The company will use HPPO technology from ThyssenKrupp and Evonik to make polyols.