Abu Dhabi – Mubasher: Borouge has established new offices in Kenya and South Korea in line with its strategic plans to expand its market share in high-growth geographies, according to a press release.
Besides its sales and marketing office in Singapore, the UAE-based company widened its footprint in Kenya and South Korea to boost its extensive international sales and supply chain infrastructure.
Meanwhile, Borouge’s global footprint includes 14 international offices across key markets in the UAE, China, Egypt, India, Japan, and Southeast Asia.
Hazeem Sultan Al Suwaidi, CEO of Borouge, said: “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,” Al Suwaidi continued.
Kenya
Located in Nairobi, the new office in Kenya will enable the company to foster closer relationships with existing customers and actively pursue key opportunities to expand its customer base in the region.
Borouge's presence in Kenya will pave the way for promising collaboration with brand owners and local manufacturers, driving the sale of infrastructure, energy, advanced packaging, as well as recyclate, or recycled raw material.
The total market size for polyolefins in East Africa is nearly 1.50 million tonnes annually and is projected to grow at 4% on an annual basis in the next 10 years. The largest market is in Kenya, followed by Tanzania, Ethiopia, and Uganda.
South Korea
In South Korea, Borouge plans to reinforce its position as a leading total solutions provider for energy businesses by providing high-quality cables and solar energy solutions.
The listed firm seeks to leverage the sale of products from Borealis’ majority-owned DYM Solution Company Limited in South Korea to meet the fast-changing requirements of its customers in the Asian country while unlocking new avenues for business.
During 2023, Borouge witnessed an annual drop of 29% in net profit to $1 billion, compared to $1.40 billion.
