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Borouge (BOROUGE) – Introduction and background |
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Borouge is an Emirati petrochemicals company, heavily involved in plastics.
Borouge is a petrochemicals company and one of the world’s largest providers of polyolefins. Founded in 1998 as a joint venture between the Abu Dhabi National Oil Company (ADNOC) and Austria-based Borealis, Borouge has its headquarters in Abu Dhabi, with a major subsidiary based in Singapore. The company specializes in the production of polyolefins, which are essential in the manufacture of many plastic products.
Borouge operates one of the world’s largest integrated polyolefins plants in Ruwais, UAE. Their product portfolio includes polyethylene and polypropylene, used in applications ranging from packaging and automotive to healthcare and construction materials. Revenue is split equally between these two main products. Borouge’s client base is global, with China and India the top regions by revenue.
After its 2022 IPO, Borouge is publicly traded on the Abu Dhabi Securities Exchange (ADX) under the ticker BOROUGE. The company is majority state owned, with the UAE government controlling 54% of shares, and Borealis another 33%. The next largest investors are international fund managers including State Street.
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