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Borealis CEO Alfred Stern & Dr Sultan Al Jaber, Minister of State and ADNOC group chief executive signing agreements to strengthen the partnership between ADNOC and Borealis. In the background: Austrian Chancellor Sebastian Kurz & H.E. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi.
Borealis CEO Alfred Stern & Dr Sultan Al Jaber, Minister of State and ADNOC group chief executive signing agreements to strengthen the partnership between ADNOC and Borealis. In the background: Austrian Chancellor Sebastian Kurz & H.E. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi.

Borealis and the Abu Dhabi National Oil Company (ADNOC) recently signed a Memorandum of Understanding (MoU) agreement to explore potential growth opportunities within the polyolefin industry in key geographical markets that both parties view as key demand centers in the future.

The agreement was signed by Borealis CEO Alfred Stern and His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO.

Under the terms of the agreement, Borealis and ADNOC will jointly explore potential growth opportunities within the integrated polyolefin industry in key geographical markets. They will partner to build on their strength which has successfully contributed to the growth of Borouge over the last 20 years to support the growth of customers in key markets through value creation through innovation.

“We want to build on our joint success in Borouge and continue to deliver ‘value creation through innovation’. A sustainable development in Asia and the Middle East will show an increasing need and demand for high value, innovative polyolefin solutions,” explained Borealis CEO Alfred Stern.

Since 1998, Borealis and ADNOC have collaborated as joint venture partners in Borouge. Borouge is a leading petrochemicals company that provides innovative plastics solutions for several industries. With 4.5 million tonnes of annual capacity, Borouge is one of the world’s largest integrated polyolefin complexes.

“In line with our downstream expansion strategy, ADNOC is pursuing investments that will maximize value from our existing resources and secure more effective market access for our expanding portfolio of products,” said H.E. Dr. Al Jaber. “The proposed agreement with Borealis, an existing strategic partner will potentially create growth opportunities for our mutual benefit, and ensure we are well positioned to meet the growing demand for a variety of high-value refined and petrochemical products.”

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