(MENAFN - Khaleej Times) Borouge, a leading provider of innovative, value creating plastics solutions, sees strong growth opportunities in China, India and South East Asia due to strong demand for its products in infrastructure, construction and packaging industries, its senior official said on Monday.
The Abu Dhabi-based firm is positive about the outlook for plastic and petrochemical sectors and its 4.5 billion expansion project is on track that will boost its annual production capacity to 4.5 million tonnes by mid 2014. The company's current annual production level is about two million tonnes.
"The Borouge 3 expansion project in Ruwais will be completed at the end of 2013 resulting in an additional capacity of 2.5 million tonnes per year," Craig Walgreen, vice-president global communication, Borouge, told Khaleej Times during an interview on the sidelines of Plastivision Arabia & ArabiaMold trade fairs.
Borouge, established in 1998, is a joint venture between the Abu Dhabi National Oil Company and Austria-based Borealis, a leading provider of chemical and innovative plastics solutions. It employs approximately 1,700 people representing more than 40 nationalities and serving customers in more than 50 countries across the Middle East, Asia-Pacific, Indian sub-continent and Africa.
"The expansion project will increase production of polyethylene and polypropylene," he said, adding that these materials are used in making pipes, automotive components, rigid and flexible packaging.
The company may utilise the additional capacity to develop products for power and communications cables market.
He said Borouge would be using approximately one third of production in home market and Middle East.
"China, India, South East Asia including Malaysia and Indonesia are big potential markets for the company's products as the lot of infrastructure and development projects are underway in those countries," Walgreen said.
"The demand for Borouge products is on the rise as urbanisation is pushing up growth in all the major markets," he said, adding that packaging, construction, food and beverages sectors are bound to grow with increase in population and urbanisation.
He said the Borouge is building an innovation centre for research and development to develop new products for plastic and petrochemical industries.
"The innovation centre in Abu Dhabi will be inaugurated by the end of this year," he said.
He said the company is also making a lot of investment in developing human resources to attract competent people into the petrochemical industry.
