Borouge, ADNOC, Borealis and Wanhua Chemical explore Chinese polyolefins project

Recently, a consortium of Borouge, ADNOC and Borealis signed a project cooperation agreement with China Wanhua Chemical and Wanhua Holdings subsidiary Wanrong New Materials to conduct a feasibility study on the development of a 1.6 million tonnes per year specialty polyolefins complex in Fuzhou, Fujian Province, China.
If the transaction is successfully completed, the consortium will establish a 50:50 joint venture with Wanrong New Materials, subject to customary regulatory approvals.

The companies involved in the project explained that the polyolefins complex will accelerate the growth objectives of both parties in the region and meet the growing demand for sustainable and innovative polyolefin solutions. Borealis' proprietary Borstar technology is planned to be at the core of the project, thereby developing products that are well suited to driving the transition of plastics to a circular economy.

The parties plan to use 100% zero-carbon electricity in the proposed complex, demonstrating their commitment to sustainable development and emission reduction with the support of the local government.

Hazem Sultan Al Suwaidi, Borouge CEO, said: "This strategic growth plan builds on the strong economic ties between the UAE and China and has the potential to create value for Borouge shareholders by accelerating our expansion in China. The proposed complex will leverage the strengths of our partners and majority shareholders, who have the ability to deploy significant capital, world-leading technology, innovation and technical expertise, and extensive logistics and customer networks. We look forward to working with our partners to expedite the completion of a sustainable feasibility study in support of our commitment to continue to reduce emissions."