Aluminium Bahrain B.S.C. (Alba), the Bahrain-based aluminium smelter, signed a Memorandum of Understanding (MoU) with International Bechtel Co. (Bechtel) to explore further opportunities of growth with Line 6 Expansion Project, which will result in Alba becoming the world’s largest single-site aluminium smelter.

His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister attended the MoU signing ceremony between Alba and Bechtel, which was held during the reception organised by the Bahrain Economic Development Board (EDB) in collaboration with American Chamber of Commerce and the U.S.-Bahrain Business Council on 30 November 2017 in Washington DC.

Other cross-sector trade agreements were also signed between Bahrain and U.S. companies during the reception.

The MoU was signed between Alba's Chief Executive Officer, Tim Murray and the Chairman and Chief Executive Officer of Bechtel Group Inc. Brendan P. Bechtel during the reception.

Speaking on this occasion, Alba's CEO Tim Murray said:

“Alba is one of the industrial cornerstones of the Kingdom of Bahrain. We are deeply committed to the Kingdom’s Economic Vision 2030 and proudly partake in the development of the society in which we operate.

Alba and Bechtel have a long-standing business partnership. We are excited at exploring further opportunities with Bechtel, which will consolidate Alba’s status as one of the most modern and largest single-site smelters in the world.”

Bechtel currently is the Engineering, Procurement, and Construction Management (EPCM) contractor for Alba’s landmark Line 6 Expansion Project.

-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 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 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 c. US$ 700 million Export Credit Financing (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 second half of 2017.

The Front End Engineering Design (FEED) study for the Project was completed in the first quarter of 2017 while the construction site-works have started in the second quarter of 2017 and will be completed by September 2017.  Alba has 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 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 (direct)
Fax:       (973) 1783 3822 
E-mail:   eline.hilal@alba.com.bh
Website: www.albasmelter.com

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© Press Release 2017