ADNOC, Borouge and Borealis announce speciality Polyolefins Complex in China

25 July 2024 – Borouge in a consortium with ADNOC and Borealis, announced the signing of a project collaboration agreement with Wanhua Chemical Group, a leading Chinese chemical company, together with Wanrong New Materials (Fujian), a subsidiary controlled by Wanhua. This agreement is for a feasibility study to develop a 1.6 million tons per year specialty state-of-the-art polyolefin complex in China. If realized, the Consortium and Wanrong New Materials intend to establish a Sino-foreign joint venture. The joint venture will have a shareholding ratio of 50:50 respectively, subject to customary regulatory approvals.

If realized, the polyolefins complex to be located in Fuzhou, Fujian Province, will accelerate the parties’ growth ambitions in the region and meet the growing demand for sustainable and innovative polyolefins solutions. Borealis’ proprietary Borstar technology is planned to be at the core of the project, enabling the development of products that are well suited to drive the transition to a circular economy for plastics.

The parties intend to utilize 100% zero-carbon electricity for the planned complex, underscoring their commitment to sustainability and reducing emissions with support from the local government.

Source: Borealis