Borealis is working-out on the possibility of building an advanced polymer/Ethylene-vinyl Acetate asset for specialty applications in China.
This investment would help Borealis to become a truly global petrochemicals company in future. The decision will be in-line with its earlier strategy of investing in the bigger market and to the proximity of customers.
The focus of the study would be the major plastics processing market of Dayabay, Huizhou, Guangdong in China. Also, this is one of growing market among the 7 strategic national petrochemicals parks.
Mark Garrett, Borealis Chief Executive stated, “I am very pleased to announce that we’re conducting this feasibility study, which is a strategic investment step into the world’s biggest chemicals market.”
William Yau, Borealis Senior Vice President Asia Growth also added by saying, “There is a strong demand for High-Pressure technology-based advanced materials in China that is mainly driven by Solar, Wire & Cable and other specialty applications. In terms of distribution, we can capitalize on the strong Borouge marketing and sales network.”
To support this plan Borealis already has a well-established, ongoing cooperation and dialogue with various authorities and stakeholders in Dayabay.