Borouge, ADNOC L&S forge US$ 531mn logistics partnership

Borouge Plc and ADNOC Logistics & Services have agreed to boost the UAE’s petrochemical exports and, in this regard, signed a partnership worth US$ 531 million, commented Hazeem Sultan Al Suwaidi, CEO of Borouge. Under the deal, ADNOC L&S will manage operations, supporting Borouge’s production growth and is likely to generate US$ 50 million in logistics savings within five years. “This pact builds on our long-standing collaboration with ADNOC L&S, a partnership that has been instrumental in meeting the evolving needs of our customers in high-growth markets. It drives substantial operational cost savings and enhances Logistics Variable Cost as well as complementing our existing rail operations and expanding the flexibility of our supply chain network,” Al Suwaidi added.