Polyolefins Powerhouse: A New Era for Borouge Group International

Borouge Group International, a new entity formed by Abu Dhabi National Oil Company and Austria's OMV, plans to potentially list in Vienna by 2027. The merger combines their polyolefin businesses, creating a $60 billion chemicals powerhouse, announced by OMV's CFO Reinhard Florey.

Borouge Group International, a partnership between Abu Dhabi National Oil Company and Austria's OMV, is eyeing a potential public listing in Vienna by the end of 2027, according to OMV's Chief Financial Officer, Reinhard Florey.

The announcement follows the companies' decision to merge their polyolefin operations, a move that promises to form a $60 billion chemical industry leader. This merger aligns the strategic interests of both entities, maximizing their position in the global chemicals market.

The formation of Borouge Group International marks a significant step for both Abu Dhabi and Austria, as they aim to leverage their combined expertise to dominate the polyolefin sector, thus shaping a formidable presence in the industry globally.

(With inputs from agencies.)