Sunday 21 April 2024
 
»
 
»
Story

Borouge containers being lifted

Borouge opens new offices in Kenya and South Korea

ABU DHABI, March 1, 2024

Borouge, a leading petrochemical firm that provides innovative and differentiated polyolefin solutions, has set up offices in Kenya and South Korea as part of its strategic initiative to expand its market share in high-growth geographies.
 
With a sales and marketing office in Singapore, Borouge’s expanded, on-the-ground presence in Kenya and South Korea enhances its extensive international sales and supply chain infrastructure, a WAM report said. 
 
Its global footprint now includes 14 international offices across key markets in the UAE, China, Egypt, India, Japan, and Southeast Asia. The company’s latest expansion aligns with Borouge’s distinct business approach, focused on close value-chain collaboration with both customers and end-users.
 
Value creation
Hazeem Sultan Al Suwaidi, CEO of Borouge, said: “Our decision to open offices in Kenya and South Korea underscores our commitment to driving sustainable growth and value creation in strategically important, high-growth markets. By expanding our global reach with more local representation, we aim to strengthen relationships with customers, gain deeper market insights, and reinforce Borouge’s position as the preferred partner for sustainable solutions.”
 
“The opening of our new offices marks a significant milestone in our journey to boost our presence in Africa and Asia, regions that are bright spots with robust market and commercial potential. Leveraging our technical expertise, innovation capabilities, and differentiated product suite, we are confident that we are well-positioned to deliver critical and innovative solutions addressing the needs of our international customers across a wide range of dynamic sectors,” he added.
 
In Kenya, Borouge has established a presence to capitalise on East Africa’s strong growth prospects in a region that boasts a population of nearly half a billion people. Through its new office in Nairobi, the company is committed to fostering closer relationships with existing customers while actively pursuing opportunities to expand its regional customer base.
 
Closer collaboration
Moreover, establishing a presence in Kenya will enable closer collaboration with brand owners and local manufacturers, driving the sale of infrastructure, energy, advanced packaging, as well as recyclate, or recycled raw material, supporting Borouge’s strategy to promote the circular economy.
 
Borouge’s presence in Kenya will also enable the company to gain a deeper understanding of the region’s unique market dynamics, allowing it to deliver tailored solutions that meet the evolving needs of its customers.
 
The total market size for polyolefins in East Africa is approximately 1.5 million tonnes annually and is projected to grow at 4 percent per year in the next ten years. The largest market is in Kenya, followed by Tanzania, Ethiopia and Uganda. In 2020, Borouge opened an office in North Africa, in Egypt’s Cairo, to support its customers in the Arab world’s most populous nation.
 
Borouge’s new office in South Korea will bolster its position as a leading total solutions provider for energy businesses. The company offers high-quality cables and solar energy solutions. Through strategic partnerships and value-added solutions, including the sale of products from Borealis’ majority-owned DYM Solution Co Ltd in South Korea, Borouge aims to meet the fast-changing requirements of its customers in South Korea while unlocking new avenues for business growth in a country of more than 51 million people.
 
Premium solutions
In the short term, Borouge will focus on its premium solutions applications in the energy sector, with long-term plans to expand into other key areas such as the infrastructure and advanced packaging segments.
 
The company’s financial strength, coupled with Borouge 4, one of the largest industrial projects in the UAE, will play a pivotal role in supporting its expansion efforts by providing high-quality and sustainable tailored solutions. This strategic project is set to drive a significant increase in production capacity and support the company’s efforts to supply critical solutions in high demand across growth markets.
 
As investments in energy and infrastructure-related projects grow, Borouge is uniquely positioned to foster commercial growth through the delivery of its durable, differentiated, and innovative product offering.--TradeArabia News Service
 



Tags:

More Industry, Logistics & Shipping Stories

calendarCalendar of Events

Ads