Rise to Become a Global Chemical Giant: Government Duo Insists on Location Guarantees for Austria in Abu Dhabi

It is an economic milestone with massive implications for the domestic business environment: The mega-merger of the chemical divisions gave rise to Borouge International in early 2026—a global giant in the polyolefins (plastics) sector with an initial enterprise value of approximately 60 billion U.S. dollars (about 52 billion euros). To ensure that this historic merger not only increases value on paper but also secures long-term jobs, research, and value creation in Austria, Minister of Economic Affairs Wolfgang Hattmannsdorfer and State Secretary Alexander Pröll set off on their first official economic mission to Abu Dhabi.

The focus of the discussions on November 1, 2026, at the Borouge Innovation Center was the first comprehensive exchange with the newly formed corporate leadership. Emma Delaney also sat at the negotiating table for the first time in her new role at the helm of the company. She was accompanied by other top managers, including Martijn van Koten, Rainer Seele, Hazeem Al Suwaidi, and Hassan Karam.

Economic Patriotism as a New Location-Based Credo

“Borouge International has emerged as one of the world’s largest chemical companies—with its headquarters in Austria,” emphasized Minister of Economic Affairs Wolfgang Hattmannsdorfer during his visit. “For me, economic patriotism means strengthening international partnerships while confidently representing our location’s interests.”

Hattmannsdorfer made it unmistakably clear that state holdings will be managed even more actively in the future in order to replace a purely dividend-driven mindset with genuine benefits for the domestic labor market. The state holding company ÖBAG, which holds a 31.5 percent stake in OMV, plays a key role here as a watchdog and facilitator of the transformation process.

The merger, which was formally completed on March 31, 2026, is based on an equal partnership: OMV and XRG—the international investment company of the state-owned energy group ADNOC from Abu Dhabi—each hold exactly 50 percent of the new global corporation. By joining forces (Borealis from Austria, Borouge from the UAE, and NOVA Chemicals from North America), the world’s fourth-largest polyolefin producer is created, which expects annual EBITDA synergies of well over 500 million U.S. dollars.

The “Austria Package”: Five Guiding Principles for the Future

To ensure a smooth integration and prevent the loss of expertise, the federal government is insisting on strict adherence to the agreed-upon “Austria Package,” which comprises five key agreements:

1. Corporate headquarters in Vienna: The official corporate headquarters and essential management functions will remain firmly anchored in Austria.

2. Research in Linz: Research and innovation activities at the Linz site are contractually guaranteed, ensuring that Upper Austria remains a global development hub.

3. Vienna Stock Exchange: A planned dual listing is intended to revitalize the domestic capital market and make it attractive to investors.

4. OMV Refineries: Long-term supply contracts guarantee the seamless continuation of existing industrial value chains.

5. Equal Control: A parity-based composition of the supervisory board ensures that both owner parties (Austria and Abu Dhabi) have equal say on an equal footing.

Artificial Intelligence and the Chemistry of Tomorrow

In addition to standard industrial products, the focus was primarily on the technological future. During the talks in the Emirates, State Secretary for Digitalization Alexander Pröll emphasized that the combination of traditional chemistry and cutting-edge technology is key to the location’s success. “The chemistry of the future will be developed using data and AI, and that should happen in Austria,” said State Secretary Alexander Pröll.

Pröll viewed the decision to keep Borouge International’s research in Linz and expand it significantly as a strong signal. At the same time, he turned his attention to domestic conditions: Anyone who wants to keep a global corporation in Vienna for the long term needs a government that operates digitally, quickly, and without red tape. During their visit, Hattmannsdorfer and Pröll also used the industry platform at the ADIPEC energy trade show in Abu Dhabi to forge high-profile international contacts—including a media-covered meeting with OpenAI CEO Sam Altman, during which they discussed global trends in the field of artificial intelligence.

Through a combination of a strategic state holding company, clear contractual safeguards in the “Austria Package,” and a focus on future technologies such as AI, the federal government aims to demonstrate that large-scale international capitalism and national economic benefits can go hand in hand.

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