Borouge and Tecnicas sign $1.39-B deal

Petrochemicals company Borouge has finalised a $1.39 billion contract with Spain''s Tecnicas Reunidas for work on an expansion project that will triple Borouge''s polyolefins output. The deal was initially awarded in 2007 and would be for utilities and offsite work at the Borouge 2 facilities under construction at the company''s petrochemicals complex in Ruwais. With the completion of Borouge 2 in 2010, the facility''s production capacity will triple to over 2 million tonnes of polyolefins. This will enable Borouge to supply its customers with high performance and value added products. Borouge, a joint venture between Denmark-based petrochemical group Borealis and state-run Abu Dhabi National Oil Co, has a production complex located in Abu Dhabi near the Ruwais oil refinery, the largest in the UAE. www.borouge.comsneakers