Borouge, ADNOC L&S enter long-term agreement to enable industrial growth in Ruwais

Borouge, ADNOC L&S enter long-term agreement to enable industrial growth in Ruwais

ABU DHABI, 14th December, 2021 (WAM) -- Borouge, a leading petrochemical company providing innovative, value-creating polyolefin solutions, announced on Tuesday a new long-term agreement with ADNOC Logistics and Services (ADNOC L&S).

Through this partnership, ADNOC L&S will manage integrated logistics for Borouge to a new main logistical hub at Khalifa Port and KIZAD in Abu Dhabi.

The new agreement covers transportation and handling operations for Borouge-manufactured polymer products at Khalifa Port for export to international markets, complementing existing agreements between the two companies.

Furthermore, the new agreement will optimise the manufacturing and distribution value chain for Borouge and improve cost per unit, enabling competitive downstream growth of ADNOC’s petrochemicals and polymers business.

Under the terms of the agreement, both partners will harness their strengths to boost the UAE’s In-Country Value (ICV). The new agreement will see 85 percent of its value flow back to the UAE’s economy, accelerating the development of critical local supply chain functions. The partnership highlights the commitment of both partners to prioritise ICV, and power the growth of the UAE economy and its development.

Commenting on the new partnership, Hazeem Sultan Al Suwaidi, Chief Executive Officer of Abu Dhabi Polymers Company (Borouge), said, "Our strategic collaboration with ADNOC L&S