Page 5 - DMEA Week 30 2022

DMEA COMMENTARY DMEA

and diligence of our people who have worked roadwork and associated civil works of the
tirelessly to deliver this exceptional performance complex.”
during the first half of 2022.” The first package, which covers early EPC
He added that the company had “delivered work including site preparation, was awarded to
significant sales volumes growth during the local firm Al Asab General Transport and Con-
first half of 2022 and continue to achieve strong tracting. Package 2 covering the facility’s 1.5mn
premia above benchmark pricing, reflecting our tpy ethane cracker was awarded to a consortium
value-added, differentiated products and inno- of France’s Technip Energies with the local Tar-
vative solutions that have a positive impact on get Engineering. The deal is understood to be
society”. valued at $500mn-$1bn.
Having bought a 25% stake in Borealis from “Borouge 4 is an enabler of ADNOC’s growth
fellow Emirati firm Mubadala Investment Co. strategy and the UAE and Abu Dhabi’s industrial
(MIC), ADNOC has a direct shareholding of growth and diversification plans. We are proud
54% in Borouge, with Borealis retaining 36%, 9% to already be contributing to the ‘Make It In The
of which is indirectly attributable to the Emirati Emirates’ programme, with more than 25% of
oil giant. the total materials and equipment of the com-
The partial privatisation of the company plex being ‘Made in the UAE,” Al Shehhi added.
follows similar listings of stock in Adnoc Dis- He noted that Borouge has “safely completed
tribution, Adnoc Drilling and chemicals JV 1.5mn man-hours to date, and with our UAE
Fertiglobe. contractor, Al Asab, we look forward to success-
fully completing the early works phase.”
PO EPC According to UAE Minister of Industry and
Meanwhile, work is set to begin on the engi- Advanced Technology and ADNOC managing
neering, procurement and construction (EPC) director and CEO Dr Sultan Al Jaber, the Bor-
phase of Borouge’s new polyolefin (PO) plant in ouge 4 expansion will make the JV the world’s
Ruwais. largest single-site polyolefin complex.
In December, the partners awarded five EPC Borouge 4 will use Borealis’ proprietary Bor-
packages contracts for the development of the star technology to produce a portfolio of prod-
Borouge 4 plant following their commitment a ucts that can be used in energy, infrastructure,
month earlier to invest $6.2bn in the unit by 2025 advanced packaging and agriculture with the
to increase the UAE’s production capacity of pol- PO output to be used as feedstock for ADNOC’s
yethylene (PE) and PO by 1.4mn tonnes per year world-scale TA’ZIZ chemicals complex within
(tpy) and 6.4mn tpy. the company’s Ruwais Derivatives Park.
Sultan Zaid Al Shehhi, project director for TA’ZIZ is a JV development between
Borouge 4, said the development “is on track ADNOC and holding company ADQ that seeks
and will enter its next phase of development to drive the development of industrial projects
with the construction of the infrastructure, within the planned Ruwais downstream hub and
which includes establishing the utility system, promote economic diversification.™

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