Search Site

TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.

QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

Borouge opens fifth polypropylene unit

Borouge is a joint venture between ADNOC and Austrian company Borealis.
  • Its total polymer capacity of polyolefins will also be increased by 11 percent from 4.5 to 5 million tons per year.
  • Raw materials produced at PP5 would be enough for making water supply pipes for 6,500 Burj Khalifa buildings.

Borouge has announced the opening of its fifth polypropylene unit (PP5) in Ruwais, which is expected to contribute to boosting the UAE’s production of polypropylene.

Borouge is a joint venture between ADNOC and Borealis, an Austrian company which is the world’s eighth largest producer of polyethylene and polypropylene.

Built within the Borouge 3 plant, PP5 will deliver 480,000 tons per year and contribute to increasing Borouge’s polypropylene production capacity by more than 25 percent to 2.24 million tons per year.

Its total polymer capacity of polyolefins will also be increased by 11 percent from 4.5 to 5 million tons per year.

The new facility will have the annual capacity to manufacture raw materials to produce enough pipes for the water supply networks for the equivalent of 6,500 Burj Khalifa buildings.

The start-up of PP5 follows soon after the announcement of the Final Investment Decision for the world-scale Borouge 4 expansion which makes Borouge’s Abu Dhabi manufacturing facilities the world’s largest single-site polyolefin complex.

Hazeem Sultan Al Suwaidi, CEO of Abu Dhabi Polymers Company (Borouge) said: “This marks further progress on Borouge’s growth journey and the development of Ruwais into a dynamic, global hub for downstream activity, enabling the UAE’s long-term industrial growth and economic diversification. Our PP5 unit, will enable us to meet our customers’ increasing demand for polypropylene solutions, especially in the packaging and infrastructure sectors across our key markets in the Middle East, Asia Pacific and Africa.”

Rainer Hoefling, CEO Borouge Pte, csaid: “We work closely with our customers and value chain partners to achieve their circular economy commitments through several initiatives. These include the development of mono-material packaging solutions that are designed for recyclability. We will be able to provide solutions that drive total cost benefits for customers by leveraging Borstar® technology to deliver unparalleled cycle time improvements, reduced warpage, and energy efficiency.”