MANAMA (ALBH): Aluminium Bahrain B.S.C. (Alba), on course to become the largest aluminium smelter in the world, unveils some of the hot industry topics which will be addressed in the 23rd edition of the Arab International Aluminium Conference (Arabal) 2019 - hosted by Alba under the patronage of HRH Prince Khalifa bin Salman Al Khalifa, the Prime Minister of the Kingdom of Bahrain from 19 to 21 November 2019 at Gulf Hotel, Bahrain.
Choosing ‘Shaping the Future of Aluminium in the Arab Region’ as the theme of this much-awaited conference, Arabal 2019 will shed the light on a number of pressing topics to include ‘impact of current economic challenges on the aluminium industry’, ‘outlook for the global aluminium industry in light of depressed LME prices’, ‘energy efficiency and its impact on energy costs, ‘environment, sustainability and recycling’ and most importantly ‘Bahrain post Line 6’.
“It is our honor to have HRH Prince Khalifa bin Salman Al Khalifa, the Prime Minister of the Kingdom of Bahrain, as the Patron of this much-awaited event especially as it coincides with Alba’s evolution to become the largest smelter in the world upon the full ramp-up of its Line 6 Expansion Project by 31 July 2019.
As a major player in the global aluminium field, we aim not only to address the market trends and challenges facing the industry but also provide the platform to offer solutions with some of the elite industry experts.”
Emerging as a global platform for the world aluminium industry leaders, the 2-day Conference is expected to attract more than 400 high level delegates from the whole spectrum of the aluminium industry (upstream, midstream and downstream) and will feature a number of renowned speakers and experts from leading aluminium organizations, including GE, International Aluminium Institute, CRU, Emirates Global Aluminium (EGA), Fastmarkets and LME, Aluminium Stewardship Initiative amongst others.
Aluminium Bahrain B.S.C. (Alba), one of the 1 million-metric tonnes smelters in the world, is one of the largest aluminium producers in the world. Alba is listed on both the Bahrain Bourse and London Stock Exchange, and the Company’s shareholders are Bahrain Mumtalakat Holding Company (69.38%), SABIC Industrial Investment Company (20.62%) and the General Public (10%).
Starting-out as a 120,000 metric tonne per annum (mtpa) smelter in 1971, Alba’s production for 2018 stood at plus-1 million metric tonnes. Alba’s product portfolio comprises high-grade aluminium and Value-Added Products that include standard and T-ingots, extrusion billets, rolling slabs, properzi ingots and molten aluminium. The Company is well-known for its strong Safety culture, employee development and work culture for value-creation and sustainable operations.
About Line 6 Expansion Project
The pride of the Kingdom of Bahrain, Alba’s Line 6 Expansion Project will make Alba the world’s largest aluminium smelter.
Alba’s Line 6 Expansion Project is one of the biggest brownfield developments in the Middle East Region. With a CAPEX of approximately US$ 3 billion, the Line 6 Expansion Project involves the construction of a sixth pot line using EGA’s proprietary DX+ Ultra Technology, a 1,792 MW Power Station (Power Station 5) utilising the world’s first H-class General Electric (GE) 9HA Gas Turbine (GT) and other industrial services.
Alba Potline 6 was commissioned on 13 December 2018, ahead of schedule, with the delivery of the First Hot Metal. Line 6 Expansion Project progress has been fast-paced since then with successfully starting 212 pots which is equivalent to 50% of Potline 6 total capacity. Alba is now looking at the safe commissioning of the remaining 212 pots and to move closer to full production by Q3 2019.
Bechtel is the EPCM contractor for the Line 6 Expansion Project smelter. For Power Station 5 (PS 5), GE and GAMA Consortium was awarded the EPC contract, while Siemens is the Power Distribution System contractor. J.P. Morgan, Gulf International Bank (GIB) and National Bank of Bahrain (NBB) are the Financial Advisors for this Project. In June 2015, Alba Board approved the Line 6 Expansion Project and in November 2015, Alba secured the natural gas supply for this Project.
Alba successfully closed a US$ 1.5 Billion syndicated term-loan facility comprising two tranches Conventional Facility & and Islamic Facility in October 2016. The 1st tranche of the Export Credit Agencies (ECA) Financing of c. US$ 700 million for Euler Hermes and SERV-covered facilities was closed in July 2017 while the first part of 2nd ECA-tranche of EUR 204.5 million for Bpifrance Assurance Export (“BpiAE”) and Euler Hermes-covered facilities was secured in April 2018. Alba successfully closed the final instalment of the 2nd ECA-tranche - c.US$136 million and c. EUR90 million from ECA supported-facilities - by end of 2018.
As of 31 May 2019, Line 6 Smelter’s Overall Progress advanced by 93.7% (Engineering progressed by 99.9% while Contracts and Procurement advanced by 98.9%); Power Station 5 & Power Distribution System Overall Progress exceeded 94% and by over 99% respectively.
Line 6 Expansion Project will be transformational for the Kingdom of Bahrain as it will significantly boost employment opportunities for Bahrainis at both Alba and the local downstream market. It will also present many co-investment opportunities through local and foreign aluminium investments in the Kingdom of Bahrain.
Alba External Grievance Mechanism
Alba, in line with the Performance Standards of the International Finance Corporation (IFC), a World Bank affiliated lending organisation, has launched its External Grievance Mechanism to receive and facilitate the resolution of the 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, every day.
For further details, please contact:
Senior Manager, Investor Relations & Corporate Secretary
Investor Relations Department
Tel: (973) 1783 5100
© Press Release 2019