Borealis mulls India investments, keeps UAE focus

31 August 2007 10:42  [Source: ICIS news]

MUMBAI (ICIS news)--Borealis is mulling investments in the compounding, catalysts and polymer additives businesses in India, said a senior company executive late on Thursday.

"Investment in these areas can be expected," said Borealis CEO-designate Mark Garrett.

The European polyolefins major will also focus on Abu Dhabi in the United Arab Emirates (UAE) for olefins and polymer production, he added.

Abu Dhabi Polymers Company (Borouge), a joint venture of Borealis and Abu Dhabi National Oil Co, is building a new 1.5m tonne/year cracker at Ruwais.

The project, which is slated for commissioning in the first half of 2010, includes 540,000 tonnes/year of polyetheylene (PE) and 800,000 tonnes/year of polypropylene (PP) capacity.

"India is likely to be a global powerhouse in polyolefins. The country is important from an innovation perspective," said Harald Hammer, CEO of the Borouge marketing company.

Borouge will focus on the infrastructure, automotive and advanced packaging segments of the Indian polymer market, he added.

By: Malini Hariharan
+65 6780 4359

< previous article(VIDEO - ICIS news Asia Lunchtime Bulletin 30 October 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly