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FINANCIAL NEWS
UAE- Borouge’s output capacity to grow to 4.5m tons by year-end
09 Jan 2013
(MENAFN) Borouge Middle East Africa senior vice-president, Hussain Sultan Lootah, stated that by the end of the current year, the company’s output capacity will grow by 2.5 million tons to 4.5 million tons, reported Khaleej Times.
Lootah said that the company, a provider of innovative and value creating plastics solutions, expects it Borouge 3 production plant, valued at USD4.5 billion, to be completed by the end of the year, and is projected to create many jobs, mainly for Emiratis.
He added that once Borouge’s expansion project is fully operational by mid-2014, the firm will own the largest integrated single-site polyolefins’ plant in the world.
During the coming 2 years, the firm, whose marketing and sales company is based in Singapore, will launch 5 more sales offices, with locations including Japan, Indonesia and Thailand.
Borouge has sales offices in strategic locations including Abu Dhabi, Singapore, Hong Kong, Shanghai, Beijing, Mumbai, Beirut, Guangzhou, New Zealand and Australia, in addition to sales agents in Egypt, Pakistan, Nepal, Iran, Taiwan, Thailand, Kenya, Korea, Bangladesh and Vietnam.
In 2011, the company, which hires over 1,700 employees, of which more than 650 are UAE nationals, posted USD3 billion in annual sales.
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