OMV Aktiengesellschaft (“OMV”) and XRG, ADNOC’s international investment arm, on March 31, 2026 announced the successful formation of Borouge Group International AG, to operate under the brand name “Borouge International”. It is the world’s leading pure-play polyolefins company and fourth-largest polyolefins producer with premium products, pioneering technology and a global footprint.

Borouge International has been formed by the combination of Borouge Plc and Borealis, with the new entity acquiring NOVA Chemicals. Backed by long-term shareholders OMV and XRG, Borouge International combines the highly complementary strengths of three polyolefins leaders and will benefit from one of the most geographically diversified and innovative platforms in the sector.

Dr. Sultan Al Jaber, Executive Chairman of XRG, said: “This milestone marks the successful establishment of Borouge International and accelerates XRG’s ambition to build a globally leading chemicals platform. By combining Borouge and Borealis and acquiring NOVA Chemicals, we are creating a world-scale polyolefins leader with differentiated technology, a resilient business model and access to high-growth markets. Borouge International is exceptionally positioned to meet growing global demand for advanced materials, while supporting industrial development, driving economic diversification, and reinforcing the UAE’s role as a trusted leader in the global energy and chemicals landscape.”

Dr. Alfred Stern, Chairman of the Executive Board and CEO of OMV, said: “Together with our long-time partner ADNOC, we are turning our vision of creating a new global polyolefins leader into reality. The new polyolefins champion Borouge International will establish itself globally with innovative products, an advantaged feedstock position, proximity to customers and a robust capital structure. The completion of the transactions is momentous for the entire industry, as well as for OMV, solidifying its market position as an integrated energy, fuels and chemicals company. Borouge International accelerates our growth strategy in Chemicals with its unique ability to realize synergies and build on the leading market positions of its respective businesses. This transaction delivers on our purpose of re-inventing everyday essentials and our mission to drive long-term, sustainable value creation for OMV’s shareholders. The formation of Borouge International creates a new, world-class company headquartered in the heart of Europe, with production across three continents. It will be at the forefront of delivering renewable and circular economy solutions.”

Read the full Press Release here