Hungarian petrochemicals company MOL Group has signed a new contract with Thyssenkrupp Solutions (Thailand) Ltd to produce polyether polyols and propylene glycol, as part of its major “Polyol Project”.
The 18 Oct announcement followed the group’s decision earlier in July to enter into contracts with Evonik AG and Thyssenkrupp Industrial Solutions to produce propylene oxide.
The project, said MOL at the time, will be its largest investment project for the period between 2017-2021 and is aimed at moving the company further along the petrochemical value chain toward semi-commodity and speciality chemical products.
The new license agreement, said the copmany, is a new milestone and will cover “technological steps to convert propylene-oxide into polyether polyols and propylene glycols.”
The contract covers the purchase of technology licenses, process design packages and front-end engineering design of the production units that convert propylene-oxide into polyether polyols and propylene glycols.
Once completed, the project, which is part of MOL’s 2030 strategy, is expected to make MOL “the main “polyether polyol and propylene glycol producer in central Europe.”