The establishment of 'Borouge International AG' is proceeding according to the approved plan, which includes the integration of 'Borouge PLC' and 'Borealis', as well as the acquisition of 'Nova Chemicals'. 'Borouge PLC' markets the production of the 'Borouge 4' complex, achieving a cumulative net profit of $400 million. 'Borouge International AG' has achieved a value that supports dividend distribution. Today, Thursday, the Abu Dhabi National Oil Company (ADNOC) and the Austrian company 'OMV Aktiengesellschaft' ('OMV') announced significant progress in their efforts to establish 'Borouge International AG'. This progress included the signing of an asset use agreement ('the Agreement') for the 'Borouge 4' complex. The transactions are expected to be completed by the end of March.
