10 January 2017

Manama - Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, announced today, its sales volume of 974,014 metric tonnes (mt) for 2016, up by 2.3% year-on-year (YoY) as compared to 951,944 mt in 2015, while its production volume topped 971,420 mt, up by 1.1% YoY versus 960,643 mt in 2015.

For the fourth quarter of 2016, sales figures grew by 1.5% YoY to stand at 256,445 mt versus 252,582 mt for the same period in 2015 while production figures reached 250,670 mt, an increase of 7,056 mt as compared to Q4 2015.

Despite the tough market conditions, Alba managed to close 2016 with its Value-Added (VA) Sales averaging 56% of total shipments versus 64% in 2015.

Commenting on Alba’s Sales and Production for 2016, Alba’s Chief Executive Officer Tim Murray said:

“We are pleased to have successfully exceeded our target in Sales and Production volumes in 2016. This remarkable achievement is in line with our expectations for 2016 and prepares Alba for reaching 2017 goals while continuing to focus on Safety Performance and Operational Excellence.

I, also, thank our dedicated workforce for being committed to Alba’s Safety journey and urge them to continue to push the limits to achieve more”. 

Aluminium Bahrain B.S.C (Alba) will release its Full-Year and Fourth Quarter 2016 Financial Results to the public on Thursday, February 15, 2017 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 largest and modern aluminium smelters in the world - is renowned for its premium grade aluminium products, technological strength and innovative policies, strict environmental guidelines and high track record for safety. Established in 1971 as a 120,000 tonnes per annum smelter, Alba today produces more than 971,000 metric tonnes per annum of the highest grade aluminium, with products including standard and T-ingots, extrusion billets, rolling slab, properzi ingots, and molten aluminium.

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%).

About Line 6 Expansion Project:
Alba’s Line 6 Expansion Project is one of the largest brownfield developments in the region. Expected to begin production by early 2019, this Project will boost the smelter’s per-annum production by 540,000 metric tonnes, bringing its total production capacity to around 1.5 million metric tonnes per year.

With a CAPEX of approximately US$ 3 billion, the Line 6 Expansion Project involves the construction of a sixth pot line utilising EGA’s proprietary DX+ Ultra Technology, a 1,792 MW power station 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.

The Bankable Feasibility Study was completed by Bechtel in December 2014. In June 2015, Alba Board approved the Line 6 Expansion Project and in November 2015, Alba secured the natural gas supply for this Project.

The Line 6 Expansion Project will make Alba the world’s largest single-site aluminium smelter and be a significant economic boost for the Kingdom of Bahrain due to the many co-investment opportunities through local and foreign aluminium investments.

For further details, please contact: 
Eline Hilal
Manager – Investor Relations, Public Relations &
Corporate Secretary 
Investor Relations & Public Relations Department
Tel:         (973) 1783 5100 (direct)
Fax:       (973) 1783 3822 
E-mail:   eline.hilal@alba.com.bh
Website: www.albasmelter.com.bh

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© Press Release 2017