The company said it intends to nominate two representatives to the OMV supervisory board
ADNOC has been expanding a refining and chemicals hub in Abu Dhabi to find additional outlets for its oil and natural gas production
The companies will explore the possibility of pursuing projects in circular economy initiatives, including plastics production and recycling, sustainable fuels and feedstock
Through this investment in OMV, who hold a 75 per cent stake in Borealis, ADNOC will increase its shareholdings in both Borealis and Borouge
The investment in Borealis expands ADNOC’s international footprint in the fast-growing chemicals and petrochemical sector in Europe and the Americas