Borealis, Borouge Plc and Nova Chemical combine to form Borouge International

Dubai, UAE— XRG and OMV have finalized a series of transactions to establish Borouge International, a new entity aimed at strengthening their position as global leaders in the chemicals industry, the companies announced.

The completion of the deals creates Borouge International, combining the strengths of both partners in polyolefins and chemicals production. The move is expected to boost innovation, expand market reach and enhance competitiveness in the global petrochemical sector.

XRG, a subsidiary focused on downstream chemicals within ADNOC, and Austria-based OMV, an integrated oil, gas and petrochemical company, said the new platform will drive growth through shared expertise and resources.

Specific financial terms of the transactions and exact ownership stakes in Borouge International were not detailed in the announcement. The companies described the creation of the entity as a strategic milestone that positions Borouge International for long-term leadership in the chemicals market.

Borouge, originally a joint venture between ADNOC and Borealis (in which OMV holds a major stake), has grown into a major producer of polyethylene and polypropylene. The new Borouge International structure builds on that foundation to accelerate international expansion.