20 May 2013 10:42 [Source: ICIS news]
GUANGZHOU(ICIS)--China’s demand for polyolefins is expected to hit 59m tonnes/year by 2020, representing an 84% surge from current levels of 32m tonnes/year, a senior executive of Borouge said on Monday.
The country will account for 59% of the 100m tonne/year projected demand from Asia at the end of the current decade, said Borouge senior vice president for North Asia Vincent Ong at the Chinaplas exhibition in Guangzhou.
Borouge’s operations are based in Abu Dhabi, but the company caters to the Asian market. The company expects to complete the expansion of its project at the site by the end of the year, Ong said.
The project, which will increase Borouge’s polyolefins capacity to 4.5m tonnes/year from 2.5m tonnes/year, is due for commercial production by mid-2014, the company executive said.
Borouge is a joint venture between Austria's Borealis and the Abu Dhabi National Oil Company (ADNOC).
The four-day Chinaplas 2013 in Guangzhou will end Thursday.
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