Hungary’s MOL plans to invest $1.9bn in petrochemicals
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Hungarian oil and gas company MOL Group is planning to make strategic investment worth $1.9 billion in its petrochemical business until 2021.
MOL plans to invest in profitable propylene derivatives and improve propylene production in the next five years.
It is expected that the first phase of strategic projects will make a contribution worth $250-300 million every year to the company’s EBITDA and customer services will deduct up to 20% from its total EBITDA by 2021.
The aim of the company is to be the only fully integrated supplier in CEE because European supply growth is driven by this region.
Plus, the company is planning to make investments in propylene oxide based polyols due to its high value in packaging, furniture, manufacturing and automotive industries.
The company plans to increase feedstocks which are needed for its petrochemical plants and derive a profit from increasing demand for jet fuel, lubricant and base oil products.
MOL plans to invest in profitable propylene derivatives and improve propylene production in the next five years.
It is expected that the first phase of strategic projects will make a contribution worth $250-300 million every year to the company’s EBITDA and customer services will deduct up to 20% from its total EBITDA by 2021.
The aim of the company is to be the only fully integrated supplier in CEE because European supply growth is driven by this region.
Plus, the company is planning to make investments in propylene oxide based polyols due to its high value in packaging, furniture, manufacturing and automotive industries.
The company plans to increase feedstocks which are needed for its petrochemical plants and derive a profit from increasing demand for jet fuel, lubricant and base oil products.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Upsurge continues to wreak havoc on Turkey’s PP, PE markets
- PVC rally roars back in Asia as supply worries mount
- China PP, PE markets join global rally after Lunar New Year holiday
- PE, PP and PVC supply crunch exacerbated on US absence, traditional trade flows upended
- European PP, PE markets set for 5th bullish month as shortage bites
- Turkey shattered as PP prices shoot up to surreal levels
- Polymer markets face one of most chaotic times
- Turnaround season set to get underway in Asia
- Crude oil heals COVID-inflicted wounds; now what lies ahead?
- Global shipping turmoil deepens, adding to the upheaval in plastic resins
