• Coronavirus in Hungary
  • Budapest
  • Hungary border control
  • HelloMagyar
EnglishFrenchGermanSpanish
EnglishFrenchGermanSpanish
<b>This €174 million investment is the largest in Hungary this year</b><b>This €174 million investment is the largest in Hungary this year</b><b>This €174 million investment is the largest in Hungary this year</b><b>This €174 million investment is the largest in Hungary this year</b>
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Breaking News
Support us
Daily News Hungary Daily News Hungary · 23/03/2022
· Business

This €174 million investment is the largest in Hungary this year

Hungarian economy Hungary MOL
MOL Largest Investment Industry Industrial Factory

Photo: Facebook.com/szijjarto.peter.official

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.

  • Read also: Breaking news! PM Orbán asks Brussels for all EU recovery money

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.

MOL petrol station
Read alsoHungarian fuel stations go bankrupt en masse, supply chain in danger?

Source: MTI

Hungarian economy Hungary MOL
Share
Daily News Hungary
Daily News Hungary

3 Comments

  1. Stickler for accuracy says:
    24/03/2022 at 09:14

    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.

  2. Eleonora Jobst says:
    24/03/2022 at 10:00

    Dear Stickler for accuracy, the author meant to write ‘create’. It’s been corrected, thanks for pointing out the mistake.

  3. Stickler for accuracy says:
    24/03/2022 at 11:52

    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.

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.


Thank you!

You have successfully joined our subscriber list.


.

Latest news
  • Minus temperatures are coming to Hungary: frosty start in the morning – weather forecast
  • Hungary has not had as much rain in January as this year since 1915
  • What happened today in Hungary? 26 January, 2023
  • Hungarian economy will skyrocket in 2024?
  • Hungarian green party calls for a referendum on the establishment of battery factories
  • Budapest ranked 7th best cultural destination in the world by Tripadvisor
  • Good news for passengers! Budapest Airport to be renovated
  • The Indian community also celebrated the Republic Day in Budapest – Photo gallery

About us

Contact us

Copyright rules

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V