Aluminium Bahrain B.S.C (Alba), one of the world’s largest aluminium smelters, held its third quarterly Board of Directors’ meeting at the Al Dana Hall on Wednesday 28 September 2022.
The Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa, started the Board meeting with: “A thank you note on behalf of the Directors to Alba Executives, Management, employees, and contractors’ personnel for the exceptional Safety record with Alba setting a precedent in its Safety performance with more than 31 million safe working hours without LTI.”
Adding further: “To further grow, we must do something beyond of what we have already mastered. With the first concrete pour at Power Station 5 Block 4, we advance closer to meet our ESG objectives.
As we step in the last quarter of this year, we remain focused to embrace the challenges we see in today’s market as opportunities to finish 2022 strong.”
During this meeting, the Board of Directors discussed and approved the Minutes of the previous meeting on 11 August 2022 as well as reviewed Reports of the Executive and ESG Committee, Board Audit Committee and the Nomination, Remuneration and Corporate Governance Committee. Individual Directors’ Complete Declaration and an update on the Independence of each Alba Board Director were also given during this meeting. The Chairman of the Board shared the latest developments on the proposed Line 7 Project. In addition, insights were given on the Company’s productivity and financial performance to-date as well as Sales with the global logistics’ challenges
The Board also reviewed the Company’s ESG developments to include the debut of Power Station 5 (PS5) Block 4’s construction Project, which will bring Alba one step closer in its race towards decarbonization in terms of higher efficiency and lower greenhouse gas (GHG) emissions. Moreover, the Board was apprised of the successful closure of the financing with Sinosure Export Credit Agency in relation to this Project.
Including the Chairman of the Board, Shaikh Daij Bin Salman Bin Daij Al Khalifa, the Alba Board of Directors comprises six directors appointed by Bahrain Mumtalakat Holding Company B.S.C. © – Mr. Yousif A. Taqi, Mrs. Suha Karzoon, Shaikh Isa Bin Khalid Al Khalifa, Mr. Tim Murray and Mrs. Rasha Sabkar. The three directors appointed by Sabic Industrial Investments Co. (SIIC) are Mr. Ahmed Alduriaan, Mr. Iyad Al-Garawi and Mr. Omar A. Al-Amoudi and one elected director, Mr. Mutlaq Hamad Al-Morished.
About Aluminium Bahrain B.S.C. (Alba)
At plus-1.561 million metric tonnes per annum (2021), Alba is one of the world’s largest Aluminium smelters with more than 50 years of excellence in Operations, Safety, Environment and Socio-Economic Development.
A blue-chip asset of the Kingdom of Bahrain, Alba completed five decades of commercial operations in May 2021. The Company marked its Golden Jubilee by breaking all its previous records in Safety and topped 30 million Safe working-hours without Lost Time Injury (LTI) on 01 September 2022 for the first-time in its history.
Alba produces high-quality Aluminium products in the form of Standard and Value-Added Products (VAP)s, which are exported to more than 240 global customers through its sales offices in Europe (Zurich), Asia (Hong Kong & Singapore) and subsidiary office in the U.S. Alba is dual listed on Bahrain Bourse and London Stock Exchange and its shareholders are Bahrain Mumtalakat Holding Company B.S.C. © (69.38%), SABIC Industrial Investments Company (SIIC) (20.62%) and General Public (10%). Alba holds globally-recognised certifications such as ISO 9001, ISO 14001, ISO 27001, ISO 45001, IATF 16949:2016, ISO 22301:2012 Business Continuity Management System (BCMS) and ASI Performance Standard Certification and Ecovadis Certification.
As the first Aluminium smelter in the Middle East, Alba has been a major contributor to the social, industrial, and economic development of the Kingdom of Bahrain. Alba sits at the heart of a thriving Aluminium downstream sector in Bahrain, which accounts for approximately 12% of the Kingdom's GDP. As one of the biggest national companies, Alba has ensured not only the employment of Bahrain nationals (84% in 2021) but also the enhancement of their capabilities through education, training, and development initiatives at every stage of their career.
Alba is recognised as one of the top industrial companies in the world with high standards in Environment practices, Social contribution and Corporate Governance. Launched in February 2022, the Company’s ESG Roadmap outlines 6 priority areas - (1) Decarbonisation, (2) Green Energy & Aluminium, (3) Circular Economy & Secondary Aluminium, (4) Employee Welfare, (5) Collaboration & Partnership and (6) Transparency, Communications & Due Diligence. Since its inception, Alba has invested into numerous environment, sustainable and socio-economic development projects that have had a positive impact on the society. Alba’s recent projects such as the first-of-its-kind US$37.5 million zero-waste Spent Pot Lining Treatment Plant and the upcoming 5-7 MW Solar Farm Project are tangible efforts to meet the goals of Bahrain’s Economic Vision 2030 as well as the Net Zero Carbon targets led by HRH the Crown Prince and Prime Minister of Bahrain. Alba will play a crucial role in the upcoming Aluminium Downstream Park, which will increase the contribution of non-oil sectors to the GDP of Bahrain.
Alba’s motto ‘Safety First, Safety Always’ has ensured that the Safety and well-being of its employees and contractors’ workforce remain a top priority. The Company has been recognised internationally for its excellent Safety and Health track record with awards such as the RoSPA Gold Award (9 years in a row) and International Safety Award with Merit from British Safety Council, as well as six major National Safety Council (NSC) USA awards for 2021. Alba has also been recognised for its initiatives to produce Aluminium responsibly through awards such as Top ESG performer in Bahrain by ESG Invest, Safeguard Label from Bureau Veritas and Best Corporate Governance Award by Ethical Boardroom.
Alba Power Station 5 Block 4 Expansion Project
Alba Power Station 5 (PS5) Block 4 is a Combined Cycle Power Plant that is an expansion of the existing PS5.
PS5 Block 4 Project is the addition of a fourth Block of similar 1:1:1 configuration with J-class gas turbine technology and with minimum nominal ISO rating of a 680.9 MW and includes tie into the existing 220kV Substation. The efficiency of this combined cycle power plant is much higher than the combined cycle power plants of PS3 and PS4. On completion of PS5 Block 4 Expansion Project, the nameplate capacity of PS5 will increase from 1,800 MW to 2,481 MW.
Mitsubishi Power & SEPCOIII consortium will be responsible to design, engineer, procure, construct and commission Block 4. PS5 Block 4 commercial operations are expected to begin in Q4 2024.
Alba External Grievance Mechanism
Alba’s External Grievance Mechanism receives and facilitates the resolution of any affected communities’ concerns and grievances about Alba’s Environment and Social (E&S) performance. External grievances about Alba’s E&S performance can be logged via the Alba Integrity Line - an independently operated confidential reporting hotline in multiple languages - via a toll-free phone system or via the intranet 24 hours a day.
Alba Response to COVID-19 Pandemic
Alba’s response strategy to COVID-19 was initiated back to January 2020 in line with the guidelines of Bahrain National Taskforce for Combating Coronavirus (COVID-19). The Company was able to maintain safe operations throughout 2021 thanks to its nimble workforce – employees and contractors’ personnel.
For further details, please contact:
Director, Investor Relations, Insurance & Corporate Secretary
Investor Relations Department
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