en.Wedoany.com Reported - On March 31, Austria's OMV and XRG, the international investment arm of Abu Dhabi National Oil Company (ADNOC), jointly announced the successful establishment of Borouge Group International. The new company will become the world's fourth largest polyolefin producer.

Borouge International was formed by merging Borouge and Borealis, while also acquiring Canada's NOVA Chemicals. XRG and OMV each hold a 50% stake in Borouge International.

The new company is headquartered in Vienna, Austria, with a regional headquarters in the UAE. It will establish multiple operational centers in North America, Europe, and Asia, alongside innovation centers in Austria, the UAE, Canada, Finland, Sweden, and China.

XRG stated that the brand-new polyolefin production complex, the Borouge 4 expansion project, will commence production this week. It has an ethylene capacity of 1.5 million tons per year and a polyethylene capacity of 1.4 million tons per year. Consequently, Borouge International will possess a polymer production capacity of 13.6 million tons across Europe, the Middle East, and North America, making it the world's fourth largest polyolefin producer.

It is reported that after nearly two years of negotiations, ADNOC and OMV reached an agreement in March 2025 to merge Borouge and Borealis to form Borouge Group International (BGI). The new company will acquire NOVA Chemicals for $13.4 billion, creating a global polyolefin leader valued at over $60 billion.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com