Abu Dhabi National Oil Company and OMV are preparing to complete a major chemicals merger by the end of March, creating a new global industry player.

The deal will combine key assets including Borouge, Borealis and Nova Chemicals into a single entity.

The new company, to be known as Borouge Group International, will be jointly owned by both firms.

Executives say the merger is aimed at strengthening their position in the global chemicals market. It is expected to improve efficiency and scale across operations.

The agreement has been in development for years and represents a long-term strategic move despite current global uncertainties.

Both companies see strong future demand for petrochemical products. The merger is designed to capture that growth.

A new production facility, Borouge 4, is expected to play a key role in generating revenue for the combined business.

The plant is projected to contribute significant profits over the next few years. This adds financial strength to the new entity.

Analysts say the merger could reshape competition in the global chemicals sector.

It highlights how major energy companies are diversifying into higher-value products. The deal will be closely watched by investors worldwide.

Source: Reuters