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Shaikh Daij chairs the board meeting.

Alba makes solid progress on Line 6 expansion project

MANAMA, May 26, 2017

Aluminium Bahrain (Alba), the Bahrain-based international aluminium smelter, has been taking solid steps towards the implementation of its Line 6 Expansion Project, according to Shaikh Daij Bin Salman Bin Daij Al Khalifa, chairman of Alba’s board of directors.

In a statement made at the second quarterly meeting for this year, held yesterday (May 25) at Alba, Shaikh Daij said: “We are very pleased with securing the first tranche of Export Credit Agency (ECA), $700 million, and we expect another $300 million - $400 million of ECA-covered financing to be closed by the end of the 3rd quarter which will fully secure Line 6 financing.  

“I would also like to thank the Alba team for the significant progress in restoring reduction line 5. We look forward to fully resuming Line 5 production both safely and as soon as possible,” he said.

During the meeting, the board approved the minutes of the previous meeting, which was held on February 9 as well as the membership of the standing committees of the board.  

In addition, the board reviewed reports of the Executive Committee, Board Audit Committee and the Nomination and Remuneration Committee. Further updates were given on reports related to safety, financial performance, Line 6 Expansion Project progress, power outage, Project Titan – Phase II, along with overall industry market trends.

The board also approved the appointment of Hassan Noor as the acting chief operations officer (COO) and Amin Sultan as the chief, power operations with immediate effect.

The Alba board comprises six directors appointed by Bahrain Mumtalakat Holding Company, which in addition to Shaikh Daij, includes Yousif Abdulla Taqi, Osama Mohammed Al Arrayedh, Yaser E Humaidan, Dr Mohamed Kameshki and Suha Karzoon. The two directors appointed by Sabic Industrial Investments Co (SIIC) are Ali Al Shamrani and Ahmed Mohammad A Al Jabr and the two independent directors are  Uwaidh Khalaf H. Al Harethi and Mutlaq Al-Morished. – TradeArabia News Service




Tags: Bahrain | Alba | Line 6 |

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