Borouge expects $400 million in savings from its Value Enhancement Programme by end of 2023

Borouge expects $400 million in savings from its Value Enhancement Programme by end of 2023

ABU DHABI, 23rd May, 2023 (WAM) -- Khalfan AlMuhairi, Senior Vice President Region MEAE, Borouge, said that the company expects to achieve US$400 million savings from its Value Enhancement Programme of by the end of the current year 2023.

AlMuhairi told the Emirates News Agency (WAM) that the company looks forward to benefiting from the Value Enhancement Programme, which was initiated at the end of 2022 and have already achieved over US$100 million by the end of the first quarter of 2023.

He expected the programme to support the company's growth plans by improving revenues and enhancing the competitive position in light of the increased demand for Borouge products over the next five years, as governments continue to invest in infrastructure solutions. “Our highly differentiated product mix has enabled us to become more resilient and manage the cyclical nature of our business.”

AlMuhairi noted, “The circular economy is a key focus area in Borouge’s Sustainability Strategy, and we are transforming our business to create a positive impact on the planet through circularity.”

As brand owners adopt more responsible practices and promote the circular economy, there is a clear need for mono-material flexible packaging solutions which are fully recyclable and sustainable, AlMuhairi said. “Therefore, together