MOL inaugurates butadiene plant, plans synthetic rubber factory in Tiszaújváros
It was also announced at the inauguration ceremony of MOL’s butadiene extraction plant that the joint venture of the MOL group and Japan-based JSR Corporation are set to build a synthetic rubber production factory in Tiszaújváros by 2017.
Prime Minister Viktor Orbán said at the inauguration ceremony of MOL’s butadiene extraction plant in Tiszaújváros on Tuesday that thanks to MOL Hungary’s chemical industry is currently being rebuilt.
At the event it was also announced that the joint venture of the MOL group and Japan-based JSR Corporation are set to build a synthetic rubber production factory in Tiszaújváros by 2017.
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| Zsolt Hernádi, Chairman and CEO of the MOL Group at the inauguration ceremony |
Beyond doubt, MOL is a Hungarian industrial corporation which is capable of implementing job-creating projects worth HUF billions, Orbán pointed out at the event.
With reference to the butadiene plant, which was built in two years, he said that this factory will be able to supply raw material to all tyre manufacturers operating in Hungary.
Zsolt Hernádi, Chairman and Chief Executive Officer of the MOL Group, said at the ceremony that according to the company’s estimates, the butadiene plant in Tiszaújváros will increase MOL Group’s profitability by HUF 6 billion to HUF 10 billion annually.
The plant will allow the manufacture 5 million vehicle tyres per year from the butadiene extracted in Tiszaújváros.
Butadiene is a colourless and easily liquefiable gas, which is a by-product of ethylene production.
Regarding the synthetic rubber factory, Hernádi said its construction costs will approximately amount to the double of the butadiene plant, built with an investment of HUF 35 billion.
The combined costs of the two projects in Tiszaújváros amount to some HUF 100 billion, placing them among Central Europe’s largest industrial developments, Mr. Hernádi said.
He went on to say that over the past 15 years his company had invested more than HUF 1.85 billion in Hungary.
At the event – which was also attended by Junichi Kosuge, Japan’s Ambassador to Hungary – Koichi Kawasaki, Senior Managing Executive Officer of the Japanese JSR Corporation, said that the demand in Europe for fuel-efficient tyres is increasing, due to environmentally aware consumers.
