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Borealis to focus on major growth projects in 2018

May 14/2018

MOSCOW (MRC) -- Leading polymer producer Borealis will focus on advancing major global growth projects throughout 2018, CEO Mark Garrett said, as per Apic-online.

Speaking to S&P Global Platts, Garrett highlighted Borealis and Nova Chemicals joint venture with Total on the US Gulf, which includes the construction of an ethane steam cracker in Port Arthur, as one such major global growth project.

Investment plans for a new propane dehydrogenation (PDH) unit at Kallo, Belgium, at the company's existing site near Antwerp, will also be a major focus of attention in 2018.

Garrett previously said a final investment decision on the PDH unit would be made in September.

"Then we have the Borouge 4 project in the UAE, which is a little bit further away from the final investment decision than the other two," Garrett said.

Borealis' joint development agreement with United Chemical Company for the creation of a polyethylene project with an integrated ethane cracker in Kazakhstan, is the fourth major project Borealis is working on.

"We have these four really big, significant (projects). We have other projects as well, but these are all the sort of multi-billion dollar megaprojects," Garrett said.

As MRC informed earlier, in April 2016, Borealis AG and PAO Gazprom, the world's gas major, signed a Memorandum of Understanding. The document reflects the parties' interest in evaluating opportunities to develop joint gas chemical projects in Russia.

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, Borealis currently employs around 6,500 and operates in over 120 countries.
Author:Margaret Volkova
Tags:PP, propylene, Gazprom, Borealis, Nova Chemicals, Total Petrochemicals, Belgium, Russia, USA.
Category:General News
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