Bahrain-based Alba upbeat on growth

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MANAMA: Alba, the world’s largest aluminium smelter ex-China, is on track to finish 2020 strong despite the challenges of the year, the company’s chairman told a board meeting.

Shaikh Daij bin Salman Al Khalifa said during the fourth quarterly directors meeting held virtually yesterday that, “2020 has been a year of exceptional events on many fronts”.

“Our secret to adapt to the changes and find our new balance is to focus our efforts, not on challenging today’s status quo, but on building the new and resilient Alba as we prepare ourselves to start 2021.”

During the meeting, the board approved the minutes of the previous meeting, reviewed reports of the executive; board audit and the nomination, remuneration and corporate governance committees.

The board also approved a memorandum of understanding (MoU) with Hangzhou Jinjiang Group (HJJ), a leading alumina producer in China, to secure Alba’s long-term alumina requirements as well as a new proposal to creep lines 4-5.

During the meeting, various updates were given on safety and plant operational performance amidst Covid-19, insights on the overall market conditions as well as Alba’s financial performance to-date.

The six directors appointed by Mumtalakat to the Alba board include the chairman, Yousif Taqi, Suha Karzoon, Shaikh Isa bin Khalid Al Khalifa, Tim Murray and Rasha Sabkar.

The three directors appointed by Sabic are Ahmed Al Duriaan, Iyad Al Garawi and Omar Al Amoudi and one elected director, Mutlaq Al Morished.

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