VOL. XLI

No. 18

4-May-1998

UAE

ADNOC And Borealis Sign Final Agreement For Ruwais Petrochemical Venture

The Abu Dhabi National Oil Company (ADNOC) and Borealis on 26 April signed their finalagreement for a joint- venture petrochemical project to be set up at Abu Dhabi's Ruwaisindustrial area. The agreement covers the establishment of a local production companyowned 60/40 by ADNOC and Borealis and a marketing company owned 50/50 by the two partnersto be based in Singapore. Borealis is owned 50%...