Search Site

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Avia to buy 40 Boeing aircraft

The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.

Emirates half-year profit $2.5bn

The record profit is subject to new 9% corporate tax for the first time.

Lulu’s IPO raises $1.72bn

The proceeds make it the largest UAE IPO of 2024 to date.

DAE 9M net profit $310m

The company said this was a 54.9 percent YoY increase in net profit.

Borouge 4 expansion on track

The early works phase of Borouge 4 is already underway.
  • Upon completion, the project will boost the total annual production capacity of polyolefins produced in the UAE to 6.4 million tons.
  • It will also supply feedstock for the TA'ZIZ Industrial Chemicals Zone.

The early works phase of the Borouge  4 expansion in Ruwais is already underway and the Engineering, Procurement and Construction (EPC) contractors are set to start construction this month, said Borouge, which is manager of the project on behalf of the owners, ADNOC and Borealis.

Upon completion, the Borouge 4 project will add an additional 1.4 million tons of polyethylene and boost the total annual production capacity of polyolefins produced in the UAE to 6.4 million tons.

The new Borouge 4 facility covers an area equivalent to almost 500 football pitches. Borouge 4 will utilize Borealis’ proprietary Borstar technology, to produce high-quality polyolefin solutions meeting growing customer demand across a range of industrial sectors, including infrastructure, energy, advanced packaging and agriculture throughout the Middle East, Africa and Asia Pacific.

Borouge said the facility will create opportunities for UAE-based manufacturers to “Make It in the Emirates”. It will also supply feedstock for the TA’ZIZ Industrial Chemicals Zone.

“Borouge 4 is an enabler of ADNOC’s growth strategy and the UAE and Abu Dhabi’s industrial growth and diversification plans. We are proud to already be contributing to the ‘Make It In The Emirates’ programme, with more than 25% of the total materials and equipment of the complex being ‘Made in the UAE’. 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,” said Sultan Zaid Al Shehhi, Borouge 4 Project Director.