Borouge secures two new contracts price AED 55 million from main producers within the UAE – Enterprise – Financial system and Finance

Borouge (ADX image: BOROUGE / ISIN: AEE01072B225), a number one petrochemical firm that gives modern and differentiated polyolefin options, has secured two new contracts price a mixed worth of AED 55 million (USD 15 million) to provide polyolefins to its associate prospects – Ducab and Union Pipes Business (UPI). Each corporations will use Borouge supplies to supply vitality and infrastructure purposes to assemble Borouge 4.

Ducab, one of many UAE’s largest home-grown vitality resolution suppliers and industrial manufacturing companies, will produce low-voltage and medium-voltage cables to energy Borouge 4 utilizing Borouge’s vitality options. UPI, one of many MENA area’s largest rugged and sturdy pipe producers, will use Borouge’s ‘Made in UAE’ options to supply strain pipes for the cooling and public sanitation system of Borouge 4.

Hazeem Sultan Al Suwaidi, Chief Govt Officer, Borouge commented: “Our newest agreements with Ducab and UPI sign the continued progress of the Borouge 4 challenge and are testomony to our dedication to the UAE’s In-Nation Worth programme – offering regionally sourced and ‘Made in UAE’ options that form a strategic challenge of this scale. We look ahead to constructing on our observe document of success and unlocking long-term worth by the aggressive pursuit of income development and price optimisation.”

Mohammad Almutawa, Group CEO of Ducab, mentioned: “Constructing strategic partnerships with nationwide champions within the industrial sector is aligned with the objective of the Operation 300bn initiative, creates in-country worth and boosts financial competitiveness. This contract will pave the best way for extra future cooperation that can serve our widespread targets”.

Mohamed Hageb, Basic Supervisor, Union Pipes Business said: “Our collaboration with Borouge has performed an vital position in enabling strategic and nationwide tasks akin to Borouge 4. Our high-density polyethylene pipes have a 50-year lifecycle, are able to withstanding harsh climate situations, and are extremely sturdy making them best for the megascale calls for of Borouge 4. We’re delighted to be collaborating as soon as once more with Borouge and constructing on our decades-long partnership.”

Borouge 4 helps the Abu Dhabi Nationwide Oil Firm (ADNOC) In-Nation Worth (ICV) programme, 60% of the award worth will circulation again into the UAE’s financial system. Moreover, Borouge 4 will allow the subsequent section of development at  Al Ruways Industrial Metropolis and provide feedstock to the TA’ZIZ Industrial Chemical substances Zone.

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