VOL. XXXIX
No. 38
17-June-1996
UAE
ADNOC And Borealis Sign Joint Venture Polyethylene Project
The Abu Dhabi National Oil Company (ADNOC) and the Norwegian-Finnish Borealis firm have signed a joint venture deal to set up a world-scale polyethylene plant with a capacity of 450,000 tons/year. The plant, which will cost an estimated $1bn, will be owned 60% by ADNOC and 40% by Borealis - a 50-50 joint venture between Finland's Neste Oy and Norway's Statoil. ADNOC said in a statement that...
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