Latest news with #HazeemSultanAlSuwaidi
Al Bawaba
22-05-2025
- Business
- Al Bawaba
Borouge And Mubadala Bio Sign Partnership Agreement To Strengthen The UAE's Healthcare And Life Sciences Sectors
Borouge, a leading petrochemicals company, that provides innovative and differentiated polyolefins solutions, has signed a strategic cooperation agreement with Mubadala Bio, a life sciences company dedicated to pursuing better health outcomes for the UAE and beyond. The partnership will explore the supply of polyolefin materials to enable local manufacturing of medical products, reinforcing local manufacturing capabilities while contributing to the future of the UAE's healthcare and life sciences sectors. The signing ceremony was witnessed by His Excellency Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, Dr. Bakheet Al Katheeri, CEO UAE investments Mubadala, and Ismail Ali Abdulla, Executive Director of UAE Clusters, Mubadala. Hazeem Sultan Al Suwaidi, CEO of Borouge, and Hamad Husein Almarzooqi, Deputy CEO of Mubadala Bio, signed the agreement during Make it in the Emirates, a flagship UAE event that unites industry leaders to drive innovation and industrial growth. Hazeem Sultan Al Suwaidi, CEO of Borouge, said, 'We are delighted to partner with Mubadala Bio to explore the development of essential medical solutions made at our Ruwais facility in the UAE. Aligned with the ambitions of 'Make it in the Emirates', this collaboration goes beyond the supply of materials, it is about combining the UAE's scientific product innovation with regional insight to bring smarter, safer products for patients and clinicians across the Middle East and beyond.' Ismail Ali Abdulla, Executive Director of UAE Clusters at Mubadala's UAE Investments Platform, added, 'This collaboration agreement with Borouge reflects Mubadala Bio's commitment to enabling a world-class, sustainable life sciences sector anchored in advanced local manufacturing. By collaborating with local partners, we aim to grow the manufacturing of UAE-made products. We are strengthening the life sciences sector, supporting the UAE's vision, and enhancing the delivery of essential health products for communities locally and abroad.' Powered by Borealis' Borstar® technology, Bormed™ RG868MO, produced by Borouge in the UAE, marks a key milestone as the initial product offering in Borouge's wider healthcare portfolio. BormedTM RG868MO provides transparency and mechanical strength, and meets industry sterilisation standards, making it ideal for pharmaceutical packaging and medical devices like three-part syringes, inhalers, pharmaceutical caps and closures. The product is already in production at Borouge's manufacturing plant in Al Ruwais Industrial City, Abu Dhabi, representing the first time it has been made for healthcare applications in the UAE. Borouge is set to launch its second healthcare product by the end of the year, building on the momentum of its current Middle East rollout. Aligned with Borouge's commitment to sustainability and innovation, this healthcare solution enables customers to reduce production cycle times through faster processing and can provide an estimated carbon footprint reduction of 5 - 10%. Mubadala Bio officially launched this week at the 'Make it in the Emirates' event, marking a major milestone in the UAE's journey to strengthen its life sciences sector. The new platform brings together integrated biopharma and pharma logistics capabilities to form a vertically integrated company, with a mission to enhance drug security and expand access to affordable, essential treatments. Mubadala Bio's integrated portfolio includes 10 facilities across Asia, Africa and Europe (6 are within the UAE), serving 100+ countries. Through its assets the company has a cumulative manufacturing capacity of 2.5 billion tablets and capsules, and 120 million IVs and injectables annually enabling the production and distribution of more than 10,000 different products.
Gulf News
30-04-2025
- Business
- Gulf News
ADNOC venture Borouge nets $281m in Q1-2025 profit
Dubai: The ADNOC backed petrochemicals company Borouge pulled out $281 million in Q1-2025 net profit, from $273 million a year ago. From a quarter-on-quarter comparison, there is a drop from Q4-24's $331 million. Borouge, which is going through a major corporate makeover, maintained its profit margins at 20% over the last two quarters. Up for major changes The latest numbers set up the 'foundation' for the proposed combining of Borouge and the other petrochemicals entity Borealis. Plus, there is acquisition of US-based Nova Chemicals to create Borouge Group International, which will be a '$60 billion global petrochemicals leader'. "The new entity has been designed to deliver consistently strong dividends and significant near-term growth, with the transactions scheduled for completion in Q1-2026," said a statement. Higher dividend ADNOC and the other major shareholder in Borouge, OMV, are creating Borouge Group International. Once all the pieces are in place for the transformation, investors will get an 'attractive estimated total dividend of $2.2 billion'. That's equal to a minimum of 16.2 fils per share dividend from 2026 to 2030, which is a 6.3% annual dividend. (This is based on an intended 90% net income pay-out ratio. Borouge and Borouge Group International dividends represent a 38% cumulative dividend return through to 2030.) On the Q1-25 numbers, "Borouge is firmly positioned on an accelerated growth trajectory having demonstrated remarkable resilience and operational excellence over the past couple of years," said Hazeem Sultan Al Suwaidi, CEO of the ADNOC joint venture. "This gives us strong confidence as we enter a new phase of transformational growth with Borouge Group International. "A core focus of our strategy remains on delivering superior value to our shareholders, demonstrated by Borouge's intention to further increase our dividend to 16.2 fils per share for 2025 - which will also serve as the intended minimum share payout up to 2030 under Borouge Group International.'
Fibre2Fashion
29-04-2025
- Business
- Fibre2Fashion
UAE's Borouge unveils major expansion to boost polyolefin output
Borouge Plc, a leading petrochemicals company that provides innovative and differentiated polyolefins solutions, has announced a series of strategic asset expansion projects to accelerate its growth, contributing annually between $165 million and $200 million (AED600 million - AED730 million) in EBITDA. The company has awarded two major contracts aimed at boosting the nameplate capacity of its second ethane cracker (EU2) and the fourth and fifth polyethylene units (PE4 and PE5). Linde Engineering has been awarded a contract for Front-End Engineering Design (FEED) services to upgrade Borouge's second ethane unit (EU2) with an additional capacity of 230,000 tonnes per annum (tpa). This strategic project is expected to increase the EU2 cracker's capacity by 15%, delivering significant financial gains upon completion in Q4 2028. Linde Engineering was selected for its expertise in design and execution, as well as its role as the licensor of the existing EU2 cracker. The ethane used as feedstock for the EU2 cracker is supplied by ADNOC Gas and ADNOC Refining, ensuring an integrated and reliable supply chain. Borouge has launched major expansion projects to boost ethylene and polyethylene production, expected to add $165â€'$200 million in annual EBITDA. Contracts were awarded to Linde and Target Engineering to increase capacity at EU2, PE4, and PE5 units. With Borouge 4 and a proposed global merger, total capacity will exceed 6.6 million tpa by 2028, driving growth and shareholder value. Borouge has also awarded Target Engineering Construction Company an engineering, procurement, and construction (EPC) contract for the expansion and refurbishment of its PE4 and PE5 production units, following a competitive bidding process. This enhancement will increase their nameplate capacity from 540,000 to 700,000 tpa each. Leveraging Borealis Borstar Polyethylene technology, the project is scheduled to be ready for start-up in Q1 2027. Hazeem Sultan Al Suwaidi, CEO of Borouge , said: 'By increasing production at our EU2, PE4 and PE5 units, as well as delivering the Borouge 4 mega project, we are strategically positioned for accelerated growth. 'The expansions of our ethylene and polyethylene capabilities will enable Borouge to meet growing market demands, unlock new revenue streams, and further strengthen our global market position. These projects demonstrate our commitment to innovation, operational excellence, and sustainable growth.' Since 2001, Borouge has increased its annual production capacity tenfold, reaching 5 million tpa and positioning itself among the top five polyolefin producers in the Middle East and Asia Pacific. Together with the Borouge 4 mega project, these expansion projects, once fully ramped up, will increase the company's annual total polyolefins production capacity to over 6.6 million tpa by 2028. These projects are driving significant value to the UAE's economy through ADNOC's In-Country Value (ICV) program, supporting economic and industrial growth. The Company's major shareholders, ADNOC and OMV have proposed the combination of Borouge and Borealis, along with the acquisition of Nova Chemicals, to create Borouge Group International. These transformational deals will create the world's fourth largest polyolefin company, a $60 billion global polyolefins leader with a substantial capacity of 13.6 million metric tonnes across 62 plants spanning North America, Europe and the Middle East – more than doubling Borouge's current capacity. Borouge Group International represents a new era of scale, growth, innovation and shareholder value. The new entity intends to offer an attractive estimated total dividend of $2.2 billion post-closing of the transaction, equivalent to a minimum of 16.2 fils per share dividend, annually from 2026 to 2030. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
Arabian Business
28-04-2025
- Business
- Arabian Business
Borouge expansion projects to add $200mn to its annual EBITDA
Borouge has awarded two major contracts, which will boost the nameplate capacity of its second ethane cracker (EU2) and the fourth and fifth polyethylene units (PE4 and PE5). The asset expansion is expected to contribute between US$165 million and US$200 million in EBITDA annually. Linde Engineering has been awarded a contract for Front-End Engineering Design (FEED) services to upgrade EU2 with an additional capacity of 230,000 tonnes per annum (tpa). Borouge awards key contracts The company has also awarded Target Engineering Construction Company an engineering, procurement, and construction (EPC) contract for the expansion and refurbishment of its PE4 and PE5 production units, following a competitive bidding process. Following the completion of the project in Q4 2028, the EU2 cracker's capacity will increase by 15 per cent, delivering significant financial gains. Linde was selected for its expertise in design and execution, as well as its role as the licensor of the existing EU2 cracker. PE4 and PE5 production units enhancement will increase their nameplate capacity from 540,000 to 700,000 tpa each. The project is scheduled to be ready for start-up in the first quarter of 2027. Hazeem Sultan Al Suwaidi, CEO of Borouge, commented: 'By increasing production at our EU2, PE4 and PE5 units, as well as delivering the Borouge 4 mega project, we are strategically positioned for accelerated growth. 'The expansions of our ethylene and polyethylene capabilities will enable Borouge to meet growing market demands, unlock new revenue streams, and further strengthen our global market position.' Since 2001, the company has increased its annual production capacity tenfold, reaching 5 million tpa and positioning itself among the top five polyolefin producers in the Middle East and Asia Pacific. Together, with the Borouge 4 mega project, these expansion projects will increase the company's annual total polyolefins production capacity to over 6.6 million tpa by 2028. The company's major shareholders, , along with the acquisition of Nova Chemicals, to create Borouge Group International. These will create the world's fourth largest polyolefin company, valued at US$60 billion with a capacity of 13.6 million metric tonnes across 62 plants spanning North America, Europe and the Middle East.
Khaleej Times
28-04-2025
- Business
- Khaleej Times
Borouge set to boost production capacity to over 6.6 million tonnes
Borouge Plc, a leading petrochemicals company that provides innovative and differentiated polyolefins solutions, on Monday announced a series of strategic asset expansion projects to accelerate its growth, contributing annually between $165 million and $200 million (Dh600 million-Dh730 million) in earnings before interest, taxes, depreciation and amortisation (Ebitda). The company has awarded two major contracts aimed at boosting the nameplate capacity of its second ethane cracker (EU2) and the fourth and fifth polyethylene units (PE4 and PE5). Linde Engineering has been awarded a contract for Front-End Engineering Design (FEED) services to upgrade Borouge's second ethane unit (EU2) with an additional capacity of 230,000 tonnes per annum (tpa). This is expected to increase the EU2 cracker's capacity by 15 per cent, delivering significant financial gains upon completion in Q4 2028. Linde Engineering was selected for its expertise in design and execution, as well as its role as the licensor of the existing EU2 cracker. The ethane used as feedstock for the EU2 cracker is supplied by Adnoc Gas and Adnoc Refining, ensuring an integrated and reliable supply chain. Borouge has also awarded Target Engineering Construction Company an engineering, procurement, and construction (EPC) contract for the expansion and refurbishment of its PE4 and PE5 production units, following a competitive bidding process. This enhancement will increase their nameplate capacity from 540,000 to 700,000 tpa each. Leveraging Borealis Borstar® Polyethylene technology, the project is scheduled to be ready for start-up in Q1 2027. Hazeem Sultan Al Suwaidi, CEO of Borouge, said: 'By increasing production at our EU2, PE4 and PE5 units, as well as delivering the Borouge 4 mega project, we are strategically positioned for accelerated growth. The expansions of our ethylene and polyethylene capabilities will enable Borouge to meet growing market demands, unlock new revenue streams, and further strengthen our global market position. These projects demonstrate our commitment to innovation, operational excellence, and sustainable growth.' Since 2001, Borouge has increased its annual production capacity tenfold, reaching 5 million tpa and positioning itself among the top five polyolefin producers in the Middle East and Asia Pacific. Together with the Borouge 4 mega project, these expansion projects, once fully ramped up, will increase the company's annual total polyolefins production capacity to over 6.6 million tpa by 2028. These projects are driving significant value to the UAE's economy through Adnoc's In-Country Value (ICV) programme, supporting economic and industrial growth. The company's major shareholders, Adnoc and OMV have proposed the combination of Borouge and Borealis, along with the acquisition of Nova Chemicals, to create Borouge Group International. These deals will create the world's fourth largest polyolefin company, a $60 billion global polyolefins leader with a substantial capacity of 13.6 million metric tonnes across 62 plants spanning North America, Europe and the Middle East – more than doubling Borouge's current capacity. The new entity intends to offer an estimated total dividend of $2.2 billion postclosing of the transaction, equivalent to a minimum of 16.2 fils per share dividend, annually from 2026 to 2030.
