Jul 23 2012 |
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Bahrain Alba Names BNP Paribas as Advisor for Expansion Financing Options
Monday, Jul 23, 2012
DUBAI (Zawya Dow Jones)-- Aluminium Bahrain (ALBH.BH), or Alba , Monday named BNP Paribas (BNPQY) as an advisor to help it assess financing options related to the estimated $2.5 billion expansion of the company's smelter to include a sixth potline.
"The consummation of the project and the related financing are subject to the completion of a feasibility study, government and board approvals of the project and other conditions customary for a project of this nature," Alba said in a statement. "Work on the feasibility study is expected to commence by the end of this year."
Alba 's last major expansion project worth $1.7 billion took place in 2005 when it added a fifth potline to its smelter. The financing required for the completion of the new potline is estimated at $2.5 billion.
The company's shares closed Monday 0.9% higher at BHD0.54.
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(END) Dow Jones Newswires
23-07-12 1226GMT
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