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Borouge, Adnoc conduct feasibility study for China polyolefins complex: A consortium of Abu Dhabi National Oil Company (Adnoc), Abu Dhabi-based petrochemicals firm Borouge, and Austrian polyolefin manufacturer Borealis will conduct a feasibility study to develop a speciality polyolefins complex in China, according to a press release (pdf). The project’s final financial and structural details will be determined after finalizing the feasibility study.
The complex will be built through a 50:50 joint venture between the consortium and Wanrong New Materials, under a project collaboration agreement the consortium inked with Wanrong and its parent company, Chinese chemicals firm Wanhua Chemical.
About the facility: The proposed complex — set to be located in China’s Fujian Province — is planned to have an annual production capacity of 1.6 mn tons of specialty polyolefins. As part of the feasibility study, the consortium will explore the deployment of AI in the complex to enhance its automated operations.
The complex will expand Borouge’s footprint in China, as it “builds on the robust economic ties between the UAE and China, and offers the potential to create value for Borouge shareholders,” Borouge CEO Hazeem Sultan Al Suwaidi said.
REMEMBER- Adnoc and Austria-based integrated oil and gas company OMV are in talks to merge the two plastic units — Borealis and Borouge — but the transaction is facing delays due to changes in management, elections in Austria, and sticking points over technicalities of the merger. The agreement, initially announced in July last year, is expected to be worth some USD 30 bn as the two companies create a combined petrochemical holding entity.
