15 October 2013 17:21 [Source: ICIS news]
LONDON (ICIS)--TVK has started construction of its planned 130,000 tonne/year butadiene (BD) installation, with the CEO of its parent company MOL and Hungarian prime minister Viktor Orban laying the foundation stone, the company said on Tuesday.
Following an import-substitution strategy, TVK will find buyers for its BD output from tyre makers across Hungary, CEO Zsolt Hernadi said.
Basic engineering for the forint (Ft) 30bn ($138m, €101m) plant, at TVK’s production complex in Tiszaujvaros, northern Hungary, will be provided by a consortium of German process engineering firm Lurgi and Hungary's OTF Contracting, MOL said.
The initial stage of construction will involve the building of a C4/C5 separation unit, it added.
The first commercial production of the installation was expected by the first quarter of 2015, the company said.
MOL’s Austrian rival, oil, gas and petrochemical group OMV has also opted to move into the BD value chain, having announced plans to construct a €230m BD plant in Burghausen, southeast Germany, by mid-2015, with the aim of accounting for approximately 6% of European BD production.
($1 = €0.75, $1 = Ft218, €1 = Ft296)
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