| Borouge III EPC contracts worth $2.6 billion signed |
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| 2010.07.11. |  | |
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Borouge, a joint venture of the Abu Dhabi National Oil Company and Borealis, announced it has signed three EPC contracts worth a total $2.6 billion for the Borouge III production complex, a capacity expansion program that will make Borouge's site in Ruwais in the United Arab Emirates the largest integrated polyolefin plant in the world.
Two of the contracts were signed with a consortium of Italy's Maire Tecnimont Engineering and Korea's Samsung. The first of these, worth $1.26 billion, involves the construction of two installations for the production of Borstar© enhanced polyethylene and polypropylene, with respective capacities of 1,080 kt per year and 960 kt per year.
The second contract with the Italian-Korean consortium is worth $400 million, for the construction of a low-density polyethylene (LDPE) plant with annual capacity of 350 kt. The third contract, covering instrumentation and auxiliary facilities, is worth $935 million, and was signed with South Korea's Hyundai Engineering and Construction.
Borouge said that as a result of the new investment, production capacity of the Borouge complex is estimated to quadruple to more than 4.5 million tonnes annually by 2013, making it the largest integrated polyolefin plant in the world.
In May this year, Borouge already signed a $1.08 billion contract with Linde to build an ethane cracker for the Borouge III complex, with annual capacity of 1.5 million tonnes.
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