Borouge Plc, a leading innovator in polyolefins, is accelerating its growth in Asia through a new strategic consortium aimed at developing a specialty polyolefins complex in China. The consortium, including Borouge, ADNOC, and Borealis, has signed a Project Collaboration Agreement (PCA) with China’s Wanhua Chemical and its subsidiary, Wanrong New Materials (Fujian).
The proposed facility in Fuzhou, Fujian Province, will produce 1.6 million tonnes per annum (MTPA) of specialty polyolefins using Borealis’ advanced Borstar® technology and Borouge’s extensive sales network. The project will involve creating a 50:50 joint venture with Wanrong New Materials (Fujian), pending regulatory approvals.
The signing ceremony, held in Beijing, was attended by His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Borouge; Liao Zengtai, Chairman of Wanhua Chemical; and Wu Xiande, Mayor of Fuzhou. Hazeem Sultan Al Suwaidi, CEO of Borouge, and Kou Guangwu, CEO of Wanhua Chemical Group, also participated in the ceremony.
Hazeem Sultan Al Suwaidi remarked, “This strategic move enhances the UAE-China economic ties and accelerates our expansion in China. The complex will capitalize on our partners’ capital, technology, and expertise, and support our commitment to reducing emissions.”
The project aims to solidify Borouge’s premium market position and expand its footprint in China, the world’s largest and fastest-growing polyolefins market. It will benefit from the combined expertise of Borouge, Borealis, and ADNOC Group, as well as Wanhua Chemical’s local network and competitive costs. The partners are committed to net-zero emissions and plan to use 100% zero-carbon electricity for the complex.
The final project structure and financial details will be determined after a feasibility study, which will also explore AI solutions for automated operations. China accounts for 40% of global polyolefin demand, and Borouge’s significant presence in the country underscores its commitment to strong growth in this key market.
