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FINANCIAL NEWS
Borouge inaugurates Singapore hub
12 May 2010
(MENAFN) A senior executive at Abu Dhabi Polymers (Borouge) announced that the company has set up a mega logistics hub in Singapore to boost its plastics export business in the South East Asia region, Gulf News reported.
Set up in association with CWT, one of the largest logistics company in South East Asia, the warehouse will handle up to 10 per cent of Borouge?s total production capacity.
The logistics hub would be the third such facility in Asia established by the Abu Dhabi-based polymer maker, after it successfully launched warehouses in Shanghai and Guangzhou in China, its main export market.
It would handle 330,000 metric tons per year of value-added polyolefins, including packing, repacking and distribution to Borouge?s customers throughout South East Asia, the official said.
Borouge is a joint venture between the Abu Dhabi National Oil Company (ADNOC) and Austrian chemical and innovative plastics solutions provider, Borealis.
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