MOL bids for 35-year municipal waste management concession

Recycling

Hungarian oil and gas company MOL on Friday said it made a binding offer in a state tender for a 35-year municipal waste management concession, according to a report by state news wire MTI.

MOL's entry into waste management is "fully in line" with its 2030+ strategy to invest in new, low-carbon, circular economy businesses, the company said.

The concession, expected to enter force on July 1, 2023, would extend to 4.5 million-5 million tonnes of waste a year. MOL would be required to invest over HUF 50 bln in waste collection and management infrastructure within the first ten years of the concession. It would also commit to establishing new waste-to-energy generation capacity exceeding 100,000 tonnes per year within the first five years.

MOL noted that it aims to boost its ratio of CAPEX on investments aligned with the European Union's taxonomy of sustainable activities to at least 50% by 2030.

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