Borouge and Wanhua Chemical Sign Agreement to Develop a 1.6 Million t/y Advanced Polyolefin Complex in Fujian, China

Borouge, in a consortium with ADNOC and Borealis, and China’s Wanhua Chemical, along with its subsidiary Wanrong New Materials, have signed a project collaboration agreement to conduct a feasibility study for developing a 1.6 million t/y state-of-the-art polyolefin complex in Fuzhou, Fujian Province, China.

If realized, the consortium and Wanrong New Materials plan to establish a Sino-foreign joint venture with a 50:50 shareholding ratio, subject to customary regulatory approvals.

The polyolefins complex aims to accelerate the parties' growth ambitions in the region and meet the increasing demand for sustainable and innovative polyolefin solutions. The project will utilize Borealis’ proprietary Borstar technology to develop products that support the transition to a circular economy for plastics.

The planned complex intends to use 100% zero-carbon electricity, highlighting the parties' commitment to sustainability and reducing emissions, with support from the local government.

Hazeem Sultan Al Suwaidi, CEO of Borouge, commented: “This strategic growth initiative builds on the robust economic ties between the UAE and China and offers the potential to create value for Borouge shareholders by accelerating our expansion in China. The proposed complex will leverage the strengths of our partners and majority shareholders, who bring the capacity to deploy significant capital, world-leading technology, innovation, and technical expertise, as well as extensive logistics and customer networks. We look forward to collaborating with our partners to swiftly deliver a sustainable feasibility study that will support our commitment to continue reducing our emissions.”

Source: Borouge, Borealis and Wanhua