Economy

Oil Updates — Crude rises on supply concerns; Sri Lanka woos foreign oil firms; Vaar Energi raises dividend

Follow-ups -eshrag News:

ABU DHABI: The next stage in the development of the Borouge 4 project in Ruwais is set to get underway, Emirates Press Agency reported.

The announcement was made by Borouge, which manages the project on behalf of its owners, ADNOC and Borealis.

“Borouge 4 is on track and will enter its next phase of development with the construction of the infrastructure, which includes establishing the utility system, roadworks and associated civil works of the complex,” Sultan Zaid Al-Shehhi, its project director, said.

The new facility, which is about the size of 500 football fields, will contribute to the continued development of the UAE’s downstream and industrial sectors as one of the pillars of ADNOC’s growth strategy.

It will use Borealis’ proprietary Borstar technology to produce high-quality polyolefin solutions for a variety of industrial sectors, including infrastructure, energy, advanced packaging and agriculture across the Middle East, Africa and Asia-Pacific.

It will also provide feedstock for the TA’ZIZ Industrial Chemicals Zone, which is accelerating the UAE’s industrial growth.

“Borouge 4 is an enabler of ADNOC’s growth strategy, and the UAE and Abu Dhabi’s industrial growth and diversification plans,” Al-Shehhi said.

“We are proud to already be contributing to the ‘Make it in the Emirates’ program, with more than 25 percent of the total materials and equipment of the complex being made in the UAE.”

He added: “We have safely completed 1.5 million man-hours to date, and with our UAE contractor, Al-Asab, we look forward to successfully completing the early works phase.”

Borouge’s recent participation in the Make it in the Emirates Forum, hosted by the Ministry of Industry and Advanced Technology in collaboration with the Abu Dhabi Department of Economic Development and ADNOC, as well as the launch of the ADDED Industrial Strategy for Abu Dhabi, has contributed to this achievement.

The company supports the local supply chain and contributes to the UAE’s In-Country Value Program. Once completed, the Borouge 4 project will take the country’s annual production capacity of polyolefins to 6.4 million tons.

Noting that the news was copied from another site and all rights reserved to the original source.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button