Hungarian synthetic rubber JV announced

Hungary’s MOL Group and Japan’s JSR Corporation have reached an agreement to establish an S-SBR synthetic rubber plant in Tiszaújváros, Hungary. The plant is expected to begin operations in 2017 and JSR and MOL will hold 51 per cent and 49 per cent shares in the joint-venture respectively. Plant capacity will be 60,000 tonnes per annum, and in the long term the project should create more than 100 new jobs.

One important raw material used in S-SBR production at the facility in Tiszaújváros is butadiene, and this will be sourced from MOL Group company TVK; in October 2013 the foundation stone was laid for its new butadiene recovery plant, also located in Tiszaújváros. Operations there should start in early 2015.

According to MOL, Hungary is an advantageous location for the new plant due to its proximity to tyre making operations within the country and in all parts of Europe. “Besides the fact that MOL’s petrochemicals value chain will be expanded with this step we are also strengthening the Hungarian industry, since world leading technology will operate in the North region of Hungary,” commented MOL chief operating officer Sándor Fasimon about the joint-venture project.