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Business

Budapest firm to invest $2 billion

by Alex Scott
November 14, 2016 | APPEARED IN VOLUME 94, ISSUE 45

MOL Group, a Budapest-headquartered petrochemical and energy firm, plans to invest $2 billion over the next five years to enhance existing chemical plants and build new ones. It will spend more than a quarter of the money to increase propylene yield and lubricants production at its steam crackers in Hungary and Slovakia. The firm also plans to add capacity for propylene oxide-based polyols for the automotive, packaging, and furniture industries. MOL currently produces more than 800,000 metric tons per year of propylene.

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