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UAE petrochemicals company Borouge has expanded its international presence with new branches in Africa and Asia, as it looks to cash in on the two regions’ robust market and commercial potential.
The Abu Dhabi Securities Exchange-listed company confirmed on Thursday it has set up offices in Kenya and South Korea, as part of its strategy to strengthen its reach in high-growth markets.
The company’s global footprint now includes 14 international offices across the UAE, China, Egypt, India, Japan and Southeast Asia. The company operates its sales and marketing head office in Singapore.
“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,” said Hazeem Sultan Al Suwaidi, CEO of Borouge.
Through its presence in Kenya, the company hopes to expand its market reach in East Africa, which is home to nearly half a billion consumers and boasts a huge market for polyolefins, estimated to be around 1.5 million tonnes a year.
It also looks to further collaborate with brand owners and local manufacturers, driving the sale of infrastructure, energy, advanced packaging, as well as recycled raw materials.
With its branch in South Korea, which is home to more than 51 million consumers, Borouge looks to bolster its position as a leading total solutions provider for energy businesses.
The company offers cables and solar energy solutions. In the short term, it will focus on its premium solutions applications in the energy sector, and over the long term, it intends to expand into other key areas, such as the infrastructure and advanced packaging segments.
(Writing by Cleofe Maceda; editing by Seban Scaria)
