Aluminium Bahrain B.S.C. (Alba), soon to-be the world’s largest single-site aluminium smelter, held its first Stakeholder Exhibitions Meeting (SEM) for its Line 6 Expansion Project today, 13 May 2018 at the Awal Ballroom, Gulf Hotel, Bahrain.

In line with the requirements of the Performance Standards of the International Finance Corporation (IFC), a World Bank affiliated lending organisation, the SEM was held to give all stakeholders an update on the Line 6 Expansion Project as well as a summary of the Environment and Social Impact Assessment (ESIA) for this Project.

Representatives of the Government and Ministries of Bahrain, Non-Government Organisations (NGOs) and Civil Society Organisations were the key invitees for the SEM.

Alba’s Executive Management Team led by its Chief Executive Officer Tim Murray, Chief Power Officer Amin Sultan, Line 6 Smelter Director Shawqi Al Hashimi presented at the SEM, where they highlighted various aspects related to the Line 6 Expansion Project. Managers and representatives from Alba, Line 6 Expansion Project team and External Independent Auditor - Environment Arabia were also present at the SEM.

Commenting on this occasion, Alba’s CEO Tim Murray said:

“Line 6 Expansion Project has become reality and will keep Alba competitive for the generations to come. We trust that this structured platform will provide us with the opportunity to strengthen our ties with stakeholders as well as develop partnerships with all.

On this occasion, I would like to thank all our stakeholders who have supported Alba on our journey to become the largest smelter in the world”.

Alba will hold an open session for the public of Bahrain on 14 May 2018 at the Awal Ballroom in Gulf Hotel from 9.00 am to 7.00 pm.

Note:

In addition to satisfying the national environmental regulations, Alba has to meet the IFC Performance Standards and Equator Principles III - June 2013, which are backed by World Bank Environmental, Health and Safety Guidelines. These Standards and Principles describe IFC’s commitments, roles and responsibilities related to environment and social sustainability directed towards clients, providing guidance on how to identify risks and impacts, and are designed to help avoid, mitigate and manage risks and impacts as a way of doing business in a sustainable way, including stakeholder engagement and disclosure obligations of the client in relation to project-level activities.

-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 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, the 1st tranche of the Export Credit Financing of c. US$ 700 million for Euler Hermes and SERV-covered facilities in July 2017 and the first part of 2nd ECA-tranche of EUR 204.5 million for Bpifrance Assurance Export (“BpiAE”) and Euler Hermes-covered facilities in April 2018. The Company is looking to secure the final part of 2nd ECA-tranche by Q3 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.

As of April 30, 2018, Line 6 Smelter’s Overall Progress exceeded 54% (Engineering progressed by more than 86% while Contracts and Procurement advanced by 92%); Power Station 5 & Power Distribution System Overall Progress exceeded 59% and 87% respectively.

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 & 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 2018