Skip to content Skip to Search
Skip navigation

Borouge secures two new $15m contracts from UAE firms

By Pramod Kumar
WAM
The latest agreements signal the continued progress of the Borouge 4 project

Abu Dhabi-listed petrochemicals major Borouge has secured two new contracts worth AED55 million ($15 million) to supply polyolefins to Ducab and Union Pipes Industry (UPI), the company said in a statement.

Both companies will use Borouge materials to produce energy and infrastructure applications to construct Borouge 4.

Ducab, a UAE-based energy solution provider and industrial manufacturing business, will produce low-voltage and medium-voltage cables to power Borouge 4 using Borouge’s energy solutions.

UPI, a rugged and durable pipe manufacturer, will use Borouge’s local solutions to produce pressure pipes for the cooling and public sanitation system.

Borouge 4 supports the Abu Dhabi National Oil Company’s in-country value programme, where 60 percent of the award value will flow back into the UAE’s economy. Furthermore, Borouge 4 will enable the next growth phase at Al Ruways Industrial City and supply feedstock to the Ta’ziz industrial chemicals zone.

In October, Borouge reported a 13.5 percent increase year-on-year in revenue to $5.13 billion for the nine months of 2022.

Overall production capacity grew by 7.9 percent year-on-year as the ramp-up of the PP5 plant was completed. PP5 commenced production of more differentiated and premium grades in the third quarter.

Latest articles

Saudi esports Savvy Games Video length: 05:07

Saudi Arabia plays the long game in a high-stakes market

Saudi Arabia has so far channeled $38 billion into the esports sector through its Public Investment Fund subsidiary Savvy Games Group. This includes high-profile acquisitions such as the $4.9 billion purchase of the Monopoly Go developer Scopely and the $1.5 billion buyout of ESL FaceIt Group, one of the world’s largest esports companies. Critics have […]

Mashreq Bank sells Neopay

Mashreq sells majority stake in NeoBank in $385m deal

Mashreq Bank has sold a 65 percent stake in its subsidiary IDFAA Payments, more commonly known as NeoPay, in a deal worth $385 million. The Dubai-listed lender sold the stake to Bahrain-headquartered alternative asset manager Arcapita Group Holdings Limited and Turkish fintech company Dgpays SARL, according to a bourse filing. It said Mashreq would retain […]

The global titans in the cloud computing market are jostling to get a foothold in Saudi Arabia

Global cloud platforms offer Saudis data protection promises

Saudi Arabia’s cloud computing market is heating up as global players find a footing in the country with promises to secure government information.  Saudi Arabia has set aside $18 billion to become a regional leader in cloud computing, the Saudi Data and AI Authority said this week, allowing foreign companies to open data centres.  Saudi […]

Water, Waterfront, Shipping Container

Turkish exports to the UK hit all-time high

Turkey’s exports to the United Kingdom reached a record high in the first eight months of 2024, according to official data. Exports rose 11 percent year on year to $8.3 billion between January and August, Anadolu Agency reported, citing data from the Turkish Exporters Assembly. The automotive sector led the way, with exports reaching $2.7 […]