This is a temporary backup site for TRENDS MENA while our primary website is being restored following a regional disruption affecting AWS cloud infrastructure in the GCC.

Search Site

AD Ports Group 2024 net profit $484m

The Group's revenue increased 48 percent year-on-year.

TAQA net income $1.93bn in 2024

The company's revenues increased 6.7 percent year-on-year.

ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

Borouge opens fifth polypropylene unit

  • 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.”