A Dh620.2 million contract to build a plastics unit in the capital for Abu Dhabi National Oil Company's (ADNOC) subsidiary Borouge has been awarded to South Korea's Hyundai.
Hyundai given Dh620m deal to build Abu Dhabi plant
Abu Dhabi National Oil Company's (ADNOC) subsidiary Borouge awarded a US$169 million (Dh620.2m) to Hyundai Engineering and Construction of South Korea to build a speciality plastics unit in Abu Dhabi, the company said.
The work will comprise the construction of a "cross-linkable polyethylene (XLPE) unit" at its petrochemical plant in Ruwais, Abu Dhabi. With an annual capacity of 80,000 tonnes, the unit is an added-value complement to the plant's low density polyethylene unit, Borouge said, which will enabling it to make plastics products for low to high voltage energy cables.
This is the final major contract to be awarded for the Borouge 3 mega-expansion project already underway in Abu Dhabi. Hyundai is also providing the utilities and offsite facilities for the project.
"When fully operational in mid-2014, Borouge 3 will more than double the plant's annual capacity to 4.5 million tonnes and create the largest integrated polyolefins plant in the world," the company said today.
Borouge is a joint venture between the ADNOC and Borealis, a leading provider of chemical and innovative plastics solutions based in Australia.
Borealis and Borouge aim to be leading long-term suppliers of polymers to the global wire and cable infrastructure market.