Borouge, ADNOC, Borealis and Wanhua Chemical Group sign project collaboration agreement to develop a new state-of-the-art polyolefins complex in Fuzhou, China

• Borouge in a consortium with ADNOC and Borealis signed project collaboration agreement with China's Wanhua Chemical Group and Wanrong New Materials (Fujian)
• Partners have initiated a feasibility study for a greenfield project strategically located in Fuzhou, Fujian Province, China
• Project leverages Borealis' state-of-the-art proprietary Borstar® technology and supports investments in growth areas
• The partners are committed to excellence in health and safety and environmental sustainability through a robust pathway to low carbon emissions

Borouge, ADNOC, Borealis (Consortium), and Wanhua Chemical Group, a leading Chinese chemical company, together with Wanrong New Materials (Fujian), a subsidiary controlled by Wanhua, announced the signing of a project collaboration agreement for a feasibility study to develop a 1.6 million tons per year specialty state-of-the-art polyolefin complex in Fuzhou, Fujian Province, China.  If realized, the Consortium and Wanrong New Materials intend to, subject to customary regulatory approvals, establish a Sino-foreign joint venture with a shareholding ratio of 50:50 respectively.

If realized, this polyolefins complex will accelerate the parties' growth ambitions in the region and meet the growing demand for sustainable and innovative polyolefins solutions. Borealis' proprietary Borstar technology is planned to be at the core of the project, enabling the development of products that are well suited to drive the transition to a circular economy for plastics.

The parties intend to utilize 100% zero-carbon electricity for the planned complex, underscoring their commitment to sustainability and reducing emissions with support from the local government.