Annual production capacity of 13.6 million tons! The world’s fourth-largest polyolefin producer has been established

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On March 31, the Austrian oil and gas company OMV and XRG, the international investment arm of Abu Dhabi’s ADNOC, jointly announced the successful establishment of Borouge Group International; the new company will become the fourth largest polyolefin producer in the world. Borouge International was formed by the merger of Borouge and Norsk Hydro, and it also acquired Novachem in Canada. XRG and OMV each hold 50% of the shares in Bolloré International. The new company’s headquarters are located in Vienna, Austria, with a regional headquarters in the UAE. It will establish multiple operation centers in North America, Europe, and Asia, as well as innovation centers in Austria, the UAE, Canada, Finland, Sweden, and China. XRG stated that the expansion project of the new polyolefin production complex, Borel-4, will begin operations this week, with an ethylene production capacity of 1.5 million tons per year and a polyethylene production capacity of 1.4 million tons per year. With this, Borouge International will have a polymer production capacity of 13.6 million tons in Europe, the Middle East, and North America, making it the fourth-largest polyolefin producer in the world. It is reported that after two years of negotiations, ADNOC and OMV reached an agreement in March 2025 to merge Borealis and Norsk Hydro to form Borealis Global Group (BGI). The new company will acquire Novachem for $13.4 billion, thereby creating a global leader in polyolefins with a value of over $60 billion.