Dubai – MENA Herald: Borouge, a leading petrochemical company that provides innovative, value creating plastics solutions, demonstrated its Research and Development (R&D) capabilities and the role that innovation plays in driving success and sustainability in the plastics industry when participated and sponsored the 3rd edition of the Gulf Petrochemicals and Chemicals Association (GPCA) Research and Innovation Summit held in Dubai from 1-3 March 2016.

Held under the theme: ‘Managing R&D during Difficult Times: Creating Global Competitiveness’, the event provided Borouge with an opportunity to highlight its commitment to innovation and research embedded in the wide differentiated portfolio of innovative plastics solutions the Company provides to its customers, as well as its state-of-the-art Innovation Centre in Abu Dhabi which is a key driver of Borouge’s success.

“R&D and innovation are the foundations of every successful petrochemical company, and with the current global economic changes and the challenges they impose on the industry after the drop in oil prices, we have to reinforce our investments in research activities to maintain our global competitiveness and thrive during these difficult times,” said HE Rashed Saud Al Shamsi, Petrochemicals Director at ADNOC, Chairman of Borouge Pte Ltd and Chairman of GPCA.

“The 3rd GPCA Research and Innovation Summit is a significant event that Borouge is keen to attend and sponsor every year due to its importance in providing the chance firstly, to expose our Company’s R&D activities and innovation capacities as a UAE national company, and secondly, to network with other high level delegates from the UAE and the GCC,” said Abdulaziz Alhajri, CEO Abu Dhabi Polymers Company (Borouge). “Sponsoring this annual gathering, Borouge reassured its commitment to the GPCA and the petrochemicals industry, highlighting the role of innovation in the market’s evolution by developing differentiated, sustainable and innovative plastics solutions.”

“As an industry, we shall continue to expand our investments in R&D and reinforce our contribution to add value to the petrochemical and plastics industries through improving our innovative capabilities regionally and globally and enhance the position of our Company at the forefront of the innovative plastics producers,” Alhajri added. “The contribution of our innovative solutions to the development of society strengthens Borouge’s commitment to sustainability and enhances the significant role it plays in the support and diversification of the UAE economy.”

As a Company focused on “Value Creation through Innovation”, Borouge invested in a state-of-the-art Innovation Centre in Abu Dhabi that serves as a focal point of innovation in the field of polymers development and application technology. Over 70 engineers, scientists and technicians, including 23 UAE nationals, work at the Centre focusing on developing new innovative plastics solutions in cooperation and partnership with Borouge’s customers throughout the value chain.

The Centre boasts extensive laboratory and resource application facilities, and one clear indication of success is the number of patent filings submitted by the Centre which reached to over 200 patents in the past two years, accounting for nearly 30% of all UAE registrations in the World Intellectual Property Organisation (WIPO) database. The Centre also works closely with the European innovation centres within Borealis, a part owner of the Company, as well as international and local educational bodies such as the Petroleum Institute and Masdar Institute to further develop the competence of polymer science in the UAE.

As an active member and supporter of the GPCA activities for more than 10 years, Borouge sponsored during the Summit a gala dinner which was attended by leading petrochemical producers, technology providers, research scholars, innovation experts and government representatives. They discussed the best practices in research and innovation strategies that can be adopted by companies of all sizes to help accelerate innovation and commercialisation results. Borouge also sponsored a number of students from the Petroleum Institute and Masdar Institute to attend the Summit and have a hand-on experience and involvement with the key players of the regional petrochemical industry.