Advertisement
|11 April, 2019

Alba expands its production & sales volume in Q1 2019

The sales' volume topped 257,113 metric tonnes (mt) in this quarter, up by 2% Year-over-Year (YoY)

Tim Murray, Chief Executive Officer

Tim Murray, Chief Executive Officer

Aluminium Bahrain B.S.C. (Alba), on the go to be transformed into the largest smelter in the world, expands its overall sales volume and throughput for the first quarter of 2019 despite the downward pressure on LME prices.

The sales’ volume topped 257,113 metric tonnes (mt) in this quarter, up by 2% Year-over-Year (YoY) while the production jumped to 272,707 mt, up by 5% YoY.  Alba closed this quarter with Value-Added (VA) Sales averaging 52% of total shipments versus 58% for the same period in 2018.

Commenting on Alba’s Sales’ volume and Production for Q1 2019, Alba’s Chief Executive Officer, Tim Murray said:

Advertisement

 “We are very pleased to have kicked-off 2019 strong despite market volatility.  

As we get closer to fully ramp-up Line 6 within Q3 2019, Alba will be positioned to further improve its operational performance and build upon the progress we made since we started Line 6 Expansion Project.”  

Aluminium Bahrain B.S.C. (Alba) will release its first quarter 2019 Financial Results to the public on 30 April 2019 as well as upload the IR presentation on its Investor Relations section at www.albasmelter.com 

-Ends-

About Alba

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, the Line 6 Expansion Project will make Alba the world’s largest aluminium smelter.

With the First Hot Metal from Potline 6 achieved on 13 December 2018, Alba is now amongst the 1 million-metric tonne smelters in the world. Upon completion in 2019, the Line 6 Expansion Project will boost Alba’s per-annum production by 540,000 metric tonnes, bringing Alba’s total production capacity to 1.5 million metric tonnes per year.

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.

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 March 2019, Line 6 Smelter’s Overall Progress advanced by 88.3% (Engineering progressed by 99.4% while Contracts and Procurement advanced by 98.9%); Power Station 5 & Power Distribution System Overall Progress exceeded 89% and by over 97% 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:

Eline Hilal

Senior Manager, Investor Relations & Corporate Secretary

Investor Relations Department

Tel:         (973) 1783 5100

E-mail:   eline.hilal@alba.com.bh 

Website: www.albasmelter.com  

Follow us on:

http://www.twitter.com/Alba4World 

http://www.facebook.com/Alba4World 

http://www.instagram.com/Alba4World 

http://www.linkedin.com/company/aluminium-bahrain 

http://www.youtube.com/Alba4World 

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases