Borouge secures two new $15m contracts from UAE firms

WAM

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.