UAE petrochemical plant begins shipments

Jan. 30, 2002
The Borouge joint venture of Abu Dhabi National Oil Co. and Borealis AS, Copenhagen, began first shipments from the $1.2 billion petrochemical complex at Ruwais this month, said the Organization of Petroleum Exporting Countries' news agency.

By an OGJ Online Correspondent

ABU DHABI, Jan. 30 -- The Borouge joint venture of Abu Dhabi National Oil Co. and Borealis AS, Copenhagen, began first shipments from the $1.2 billion petrochemical complex at Ruwais this month, said the Organization of Petroleum Exporting Countries' news agency.

The complex achieved full ethylene capacity of 600,000 tonnes/year and 70% of polyethylene capacity of 450,000 tonnes/year; full polyethylene capacity is expected by the end of February

Joost Schrevens, Borouge CEO, said, "As per our plans, one-third of the total production will be exported to Middle East markets and the rest will be shipped to Asia and Europe," he said.

Borouge signed a contract last month with the Abu Dhabi National Tanker Co. to undertake shipments of ethylene from Ruwais to the hub port of Mina Zayed, as well as to Jebel Ali in Dubai. Borouge also signed an accord with Mina Zayed, Mussafah port, and Jebel Ali for the export of polyethylene.

Schrevens said the company expected positive cash flow starting next year.