Abu Dhabi’s XRG, the worldwide energy investment arm of ADNOC, and Austrian energy corporation OMV have finalized the procedure to form Borouge Group International.
ADNOC and OMV had agreed on terms last year to integrate their polyolefins businesses, Borouge and Borealis, to generate a $60-billion global corporation. Borouge International is now the world’s fourth-biggest polyolefins manufacturer with top rate products, XRG stated in a announcement.
As declared in March 2025, ADNOC’s stake in Borouge International has now been transferred to XRG, complementing XRG’s Global Chemicals Platform and guiding its ambition to become a top 3 worldwide chemicals investor. Borouge International will be mutually controlled as an equal partner ship between OMV and XRG, each holding a 50% stake.
Borouge International access to a global manufacturing potential capacity of 13.6- million tons a year, with near-term growth venture which includes the 1.4-million tons Borouge 4 site. ADNOC presently owns 70% of that, with the other 30% owned by OMV.
Borouge International, which also obtained Canada’s Nova Chemicals, is predicted to support drive the UAE’s economic diversification plans and strengthen its function as a “trusted on leader in the global energy and chemicals landscape”, stated Dr. Sultan Al Jaber, Executive Chairman of XRG, and Managing Director and Group Chief Executive of ADNOC.
The corporation is “notably positioned to meet developing global demand for advanced materials … developing a world-scale polyolefins leader with differentiated technology, a resilient business model and access to high- growth markets,” stated Dr. Al Jaber, who is also UAE Minister of Industry and Advanced Technology.
The corporation has its headquarters in Austria and is tax domiciled in the nation, with regional headquarters in the UAE. Borouge International will operate corporate hubs across North America, Europe and Asia, with innovation centres in the UAE, Austria, Canada, Finland and Sweden, XRG said.
