19 March 2008 10:57 [Source: ICIS news]
LONDON (ICIS news)--Abu Dhabi’s International Petroleum Investment Co has signed an agreement with Borealis and the Abu Dhabi Investment Council to build a large-scale integrated olefins and aromatics complex in the Middle East emirate, the companies said on Wednesday.?xml:namespace>
The multi-billion-dollar project, named ?xml:namespace>
“Upon completion of the first phase, expected in 2013, the complex will be the largest and most integrated of its kind in the world,” said Austria-based plastics group Borealis.
Borealis is already involved in large-scale production in the United Arab Emirates (UAE), owning 40% of the Borouge cracker complex in a joint venture with Abu Dhabi National Oil Co (ADNOC). A further 2.1m tonnes of polyolefins capacity due on stream in 2010 is being added to that venture.
"Borealis is pleased to be part of this new initiative in
"We are already contributing to the growth of
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections