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Borouge, a joint venture between Adnoc and Austrian chemical producer Borealis, has signed preliminary agreement Partnered with Abu Dhabi Medical Devices Company (ADMD) to supply plastics and develop the emirate’s medical device industry.
As part of the agreement, Borouge will provide Polyolefin — A thermoplastic material widely used in medical devices and packaging — ADMD.
The use of plastics in healthcare applications has increased due to the spiraling demand for healthcare. Next-generation medical devices are developed using polyolefins rather than traditional materials such as glass, paper, cardboard or metal.
Khalfan Al Muhairi, Senior Vice President, MEAE, Borouge, said: “We are delighted to be part of this important partnership through which we will provide ADMD with our solutions, strengthening our position as the first choice for the UAE healthcare industry leading position as a supplier of polyolefin solutions,” said in a statement on Tuesday.
ADMD manufactures a range of medical devices and is the only manufacturer of self-disabled syringes in the Middle East and Africa, with an annual output of over 400 million units.
The company said the partnership, driven by the Ministry of Industry and Advanced Technology, is another “important” step for Borouge in supporting the UAE’s healthcare sector.
According to Grand View Research, the global medical plastics market is worth $46.1 billion in 2021 and is expected to grow at an annual rate of 7.5% from 2022 to 2030.
Last month, the UAE announced the signing of industrial agreements worth 260 million dirhams ($70.79 million) between major pharmaceutical and medical companies to manufacture medical devices locally.
Under the partnership, PureHealth, one of the largest healthcare providers in the UAE, will work with ADMD, Abu Dhabi Ports Group and Borouge to build a Dh110 million medical supplies production line in Abu Dhabi.
Borouge will provide the raw materials, while Abu Dhabi Ports Group will provide industrial sites at ICAD 1 for the production of medical syringes, drug delivery devices and blood collection tubes.
“Our range of specialist healthcare solutions ensures that our clients’ healthcare operations are conducted in a reliable manner, meeting industry needs,” said Mr Al Muhairi.
“In addition to medical compliance documentation and technical services, we gather insights from our value chain partners and incorporate them into our processes, from product concept to production, procurement, support and distribution,” he added.
Borouge reported a 14% year-on-year increase in revenue for the first nine months of 2022, driven by higher sales of key petrochemical polypropylene.
Earlier this year, the company successfully commissioned its fifth polypropylene plant (PP5) at Ruwais as it continued to expand capacity.
The unit will help the UAE meet the growing global demand for products in advanced recyclable packaging, infrastructure and industrial sectors.
Updated: 11/8/2022 1:52pm
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