- The new propylene plant in Tiszaújváros is a HUF 65 billion (EUR 175m) investment.
- The plant will produce 100,000 tons of propylene per year.
- Construction will employ thousands and create 30-40 long-term jobs.
- The plant is expected to start operating in 2024.
Investment and Production Capacity
The cornerstone of a new propylene plant in Tiszaújváros has been laid, marking a HUF 65 billion (EUR 175m) greenfield investment. The plant will produce 100,000 tons of propylene annually, significantly covering the company's chemical raw material needs and increasing self-sufficiency. This facility will also supply propylene to the polyol complex under construction, positioning Tiszaújváros as a key chemical hub in the region.
Strategic Importance
The construction of the propylene plant is part of the updated SHAPE TOMORROW 2030+ strategy, aimed at increasing the proportion of non-motor fuel products. Over the coming years, approximately $4.5 billion will be invested to establish Tiszaújváros as the leading chemical center in the region. The new plant will provide a stable supply of raw materials for three product lines, meeting a quarter of the company's total propylene needs.
Employment and Economic Impact
The construction phase will employ thousands of people, with around 50 percent of suppliers being Hungarian. Once operational in 2024, the plant is expected to create 30-40 long-term competitive jobs. The Hungarian government is supporting the project with HUF 5 billion.
Ongoing Developments
This investment is part of a broader development strategy in Tiszaújváros, which includes the reconstruction of the Butadiene Extraction Plant and the Synthetic Rubber Factory, as well as the completion of the €1.3 billion Polyol Complex. Additionally, the modernization and extension of the Olefin-1 plant, Hungary's largest efficiency improvement program on existing equipment, is progressing well.
