JV plans higher expansion for China
By Richard Fu |
April 19, 2012, Thursday
|
Print Edition
Print Edition
UNITED Arab Emirates petrochemical company Borouge is planning a US$4.5 billion expansion to support China's infrastructure growth and urbanization.
The firm, a joint venture between Abu Dhabi National Oil Co and Austria-based Borealis, will boost the total annual capacity of polyethylene (PE) and polypropylene (PP) plastics to 4.5 million tons by mid-2014 at its complex in the UAE capital, more than doubling the current level.
About one third of the higher capacity will go to the China market, said Wim Roels, CEO of Borouge's sales and marketing company, in an interview yesterday at Chinaplas 2012, the largest trade fair for the plastics industry in Asia.
By 2020 China may boast the biggest demand for thermoplastic polyolefins, which include PE and PP, the BMI research agency said, amid rising demand from industries.
The firm, a joint venture between Abu Dhabi National Oil Co and Austria-based Borealis, will boost the total annual capacity of polyethylene (PE) and polypropylene (PP) plastics to 4.5 million tons by mid-2014 at its complex in the UAE capital, more than doubling the current level.
About one third of the higher capacity will go to the China market, said Wim Roels, CEO of Borouge's sales and marketing company, in an interview yesterday at Chinaplas 2012, the largest trade fair for the plastics industry in Asia.
By 2020 China may boast the biggest demand for thermoplastic polyolefins, which include PE and PP, the BMI research agency said, amid rising demand from industries.
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