Abu Dhabi – Mubasher: Borouge has entered into an agreement through its wholly owned subsidiary Abu Dhabi Polymers with the owners of Borouge 4 LLC based on the statements released by ADNOC and OMV on 19 March 2026.
The agreement will enable Borouge to operate and market the volumes of Borouge 4, which is one of the largest industrial projects underway in the UAE, in return for an at-cost utilization fee, according to a press release.
Moreover, the asset usage agreement is expected to deliver AED 1.50 billion, equivalent to $400 million, in cumulative net profit over three years and approximately 10% earnings accretion, after full ramp up of the Borouge 4 project.
The statements also included new information relating to the expected timing of the contemplated Borouge Group International listing and the proposed tender offer to Borouge shareholders, which are now expected to take place in 2027, subject to market conditions.
Borouge stated that until then, it will remain listed on the Abu Dhabi Securities Exchange (ADX) with no change to its intended annual dividend of 16.2 fils per share. It added that there is no action required from the listed Borouge shareholders in relation to these statements.
It is worth noting that Borouge plans to pay out an aggregate minimum dividend of AED 27 billion until 2030.
