Borouge’s revenue rises 8% in 2022 on higher sales volumes – The National

Borouge’s revenue rises 8% in 2022 on higher sales volumes – The National

Borouge, the joint venture between Adnoc and Austrian chemicals producer Borealis, said its 2022 revenue rose by 8.2 per cent from a year earlier on higher sales volumes.

Revenue for the 12-month period ending in December climbed to $6.72 billion, from $6.22 billion in 2021, the company said on Thursday in a filing to the Abu Dhabi Securities Exchange, where its shares are traded.

Total sales volume grew by about 15 per cent as Borouge increased production from its fifth polypropylene unit (PP5), which raised the company’s production capacity by 500,000 tonnes a year.