Abu Dhabi – Mubasher: Borouge has announced two new agreements with Ducab and Union Pipes Industry (UPI) at an aggregated value of AED 55 million ($15 million) for polyolefins supplies.
The two companies will utilize Borouge’s materials to generate energy and secure infrastructure applications to build Borouge 4, according to a press release.
Under the partnership, Ducab will produce low-voltage and medium-voltage cables to power Borouge 4 by deploying the listed firm’s energy solutions.
Through Borouge’s Made in UAE solutions, UPI will establish pressure pipes for the cooling and public sanitation system of Borouge 4.
It is worth noting that Ducab is one of the biggest home-grown energy solution providers and industrial manufacturing businesses in the UAE, whereas UPI is included among the largest rugged and durable pipe manufacturers across the MENA region.
Hazeem Sultan Al Suwaidi, CEO of Borouge, commented: “Our latest agreements with Ducab and UPI signal the continued progress of the Borouge 4 project and are a testament to our commitment to the UAE’s In-Country Value programme – providing locally sourced and ‘Made in UAE’ solutions that shape a strategic project of this scale.”
Mohammad Almutawa, Group CEO of Ducab, said: “Building strategic partnerships with national champions in the industrial sector is aligned with the goal of the operation 300 billion initiative, creates in-country value and boosts economic competitiveness.”
“This contract will pave the way for more future cooperation that will serve our common goals,” Almutawa mentioned.
Mohamed Hageb, General Manager of UPI, noted: “Our collaboration with Borouge has played an important role in enabling strategic and national projects such as Borouge 4.”
Hageb added: “Our high-density polyethylene pipes have a 50-year lifecycle, are capable of withstanding harsh weather conditions, and are highly durable making them ideal for the megascale demands of Borouge 4.”
In the first nine months (9M) of 2022, the ADX-listed company registered net profits worth $1.16 billion, lower than $1.22 billion in the January-September 2021 period.
