This €174 million investment is the largest in Hungary this year
Péter Szijjártó, the minister for foreign affairs and trade, on Wednesday attended the cornerstone ceremony of a propylene plant of MOL Petrolkemia in Tiszaújváros, in eastern Hungary. The 65-billion-forint (€ 174.5 million) project is the largest investment by a Hungarian company so far this year, he noted.
The project to be completed by 2024 received government support of 5 billion forints and is expected to create 1,200 jobs, he said.
Hungarian oil and gas company MOL, which controls MOL Petrolkemia, is pursuing a strategy of turning an increasing proportion of crude oil into durable goods instead of fuel, he said.
The investment has implemented climate-friendly measures that cut carbon emissions by some 40,000 tonnes a year while reducing the amount of waste water to “almost zero”, he said.
Referring to the war in Ukraine, Szijjártó warned that Europe faced “grave challenges” in securing its energy supply, while reforming Europe’s energy landscape would take “not days or weeks but many years”.
Accordingly, Hungary rejects sanctions that would unduly burden Hungarian households and industry, he said.
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Source: MTI
3 Comments
Am I missing something here? If the cornerstone has just been laid and the project is not expected to be completed until 2024, how can it be “expected to preserve 1,200 jobs”? It might create 1,200 jobs, or does the article mean that without this project, 1,200 existing jobs would be lost? Deciphering DNH code is quite difficult sometimes.
Dear Stickler for accuracy, the author meant to write ‘create’. It’s been corrected, thanks for pointing out the mistake.
Dear Eleonora, thanks for clarifying. That just leaves the article with the headline “FM inaugurated two Hungarian factories, preserving 260 jobs” which appears today to be likewise deciphered.