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Aluminium Bahrain B.S.C (Alba) demonstrated its continuous support towards events that highlight Bahrain as an investor-friendly destination by being the strategic partner for the well-known Gulf Industry Fair (GIF) 2018, which is being organised under the patronage of His Royal Highness the Prime Minister of the Kingdom of Bahrain, Prince Khalifa bin Salman Al Khalifa.
Hilal Conferences & Exhibitions is organising the GIF 2018 from 06 to 08 February 2018 at the Bahrain International Exhibition Centre, Kingdom of Bahrain.
Alba has been a key supporter of the GIF and has an exhibition stand where visitors can meet with the Company’s officials and know more about its economic and social development initiatives.
Commenting on Alba's support for the GIF 2018, Alba's Chief Executive, Tim Murray said:
"The Gulf Industry Fair is an important annual event that showcases Bahrain as a leading industrial hub in this Region as well as promotes Bahrain’s aluminium industry. As a significant contributor to the economy of Bahrain, Alba is proud to represent the aluminium industry at the GIF every year and we look forward to network with our partners in this platform.”
GIF 2018 is a highly acclaimed trade exhibition in GCC that covers key industrial segments including aluminium, steel, alloys, metal, automation, metrology, energy, logistics, manufacturing & industrial security & safety.
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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 981,000 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 January 1st 2019, this Project will boost the smelter’s per-annum production by 540,000 metric tonnes, bringing its total production capacity to 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 (Power Station 5) 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 as well as the first tranche of the Export Credit Financing of c. US$ 700 million for Euler Hermes and SERV-covered facilities in July 2017. The Company is looking to secure the second tranche of the Export Credit Agency (ECAs) within the first quarter of 2018.
The Front End Engineering Design (FEED) study for the Project was completed in the first quarter of 2017. The construction site-works have started in the second quarter of 2017 while the mass earthworks was completed by the end of the third quarter of 2017 as per schedule. Alba has also laid the First Concrete in Potline 6 Foundation in May 2017 wherein the concrete foundations will reach 85,000 m3 upon completion by December 2018. The overall project progress to-date exceeded 36% (wherein engineering progressed more than 70% while contracts and procurement advanced by more than 80%).
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:
Shreedevi Menon
Corporate Communication Officer
Investor Relations Department
Tel: (973) 1783 7357
E-mail: shreedevi@alba.com.bh
Website: www.albasmelter.com
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