NewsSSESSMENTS: Borealis To Halt Petrochemical Project Due To Coronavirus

Austrian petrochemical maker Borealis has decided not to proceed with a petrochemical project in Kazakhstan due to the coronavirus pandemic, market sources told SSESSMENTS.COM. The decision was taken after a thorough assessment of the impact of the COVID-19 pandemic and the increased market uncertainty in the future. In 2018, the company signed a deal with the United Chemical Company (UCC) to build an ethane cracker and two PE units with a combined capacity of 1.25 million tons/year in Kazakhstan.