BOROUGE SECURES TWO NEW CONTRACTS WORTH AED 55 MILLION FROM LEADING UAE MANUFACTURERS
- Latest contracts build on Borouge’s track record in creating value from its portfolio of differentiated solutions that support long-term revenue growth and cost optimisation
- Ducab and Union Pipes Industry will employ Borouge solutions to produce power cables and pressure pipes for Borouge 4 infrastructure
- Contracts reinforce Borouge’s commitment to supporting the UAE’s In-Country Value programme and ‘Make It in the Emirates’ initiative
Abu Dhabi, United Arab Emirates. January 10 2023: Borouge (ADX symbol: BOROUGE / ISIN: AEE01072B225), a leading petrochemical company that provides innovative and differentiated polyolefin solutions, has secured two new contracts worth a combined value of AED 55 million (USD 15 million) to supply polyolefins to its partner customers – Ducab and Union Pipes Industry (UPI). Both companies will use Borouge materials to produce energy and infrastructure applications to construct Borouge 4.
Ducab, one of the UAE’s largest home-grown energy solution providers and industrial manufacturing businesses, will produce low-voltage and medium-voltage cables to power Borouge 4 using Borouge’s energy solutions. UPI, one of the MENA region’s largest rugged and durable pipe manufacturers, will use Borouge’s ‘Made in UAE’ solutions to produce pressure pipes for the cooling and public sanitation system of Borouge 4.
Hazeem Sultan Al Suwaidi, Chief Executive Officer, Borouge commented: “Our latest agreements with Ducab and UPI signal the continued progress of the Borouge 4 project and are testament to our commitment to the UAE’s In-Country Value programme – providing locally sourced and ‘Made in UAE’ solutions that shape a strategic project of this scale. We look forward to building on our track record of success and unlocking longterm value through the aggressive pursuit of revenue growth and cost optimisation.”
Mohammad Almutawa, Group CEO of Ducab, said: “Building strategic partnerships with national champions in the industrial sector is aligned with the goal of the Operation 300bn initiative, creates in-country value and boosts economic competitiveness. This contract will pave the way for more future cooperation that will serve our common goals”.
Mohamed Hageb, General Manager, Union Pipes Industry stated: “Our collaboration with Borouge has played an important role in enabling strategic and national projects such as Borouge 4. Our high-density polyethylene pipes have a 50-year lifecycle, are capable of withstanding harsh weather conditions, and are highly durable making them ideal for the megascale demands of Borouge 4. We are delighted to be collaborating once again with Borouge and building on our decades-long partnership.”
Borouge 4 supports the Abu Dhabi National Oil Company (ADNOC) In-Country Value (ICV) programme, 60% of the award value will flow back into the UAE’s economy. Furthermore, Borouge 4 will enable the next phase of growth at Al Ruways Industrial City and supply feedstock to the TA’ZIZ Industrial Chemicals Zone.
About Borouge Plc
Borouge Plc, listed on the Abu Dhabi Securities Exchange (ADX symbol “BOROUGE” / ISIN “AEE01072B225”), is a leading petrochemical company that provides innovative and differentiated polyolefin solutions for the infrastructure, energy, agriculture, mobility, healthcare and advanced packaging industries. ADNOC owns a majority 54% stake and Borealis holds a 36% stake in Borouge. To find out more, visit: borouge.com
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