Aluminium Bahrain (Alba), one of the leading aluminium smelters in the world, has announced the completion of its Project Titan – Phase I, an efficiency programme initiated with the objective to reduce cash cost by $150 per tonne.

The programme achieved $148 per tonne against the set target of $150 per tonne, said a statement from the company.

The results of the project was measured against baseline of 2013 actuals and focused mainly on creating a competitive and sustainable cost structure, it said.
                 
Directed by Alba’s chief executive officer Tim Murray, Project Titan was a two-year efficiency programme that commenced in February 2014 with an aim to drive revenue growth and boost profitability, it added.

This project looked at ways and means to generate significant amount of savings, majority of which will be invested in projects that will drive future growth in strategic areas of business, it said.

Murray said: “Through this project, we were able to leverage the use of our operational excellence as well as train and develop the next generation of leaders from within the company.”

“Given the current London Metal Exchange (LME) market pressures and rising gas price over the coming years, it is critical that Alba continues to adopt measures to improve its efficiency. In line with this objective, Alba will soon embark on Phase II of Project Titan, which will be crucial to maintaining our position as one of the leading, low cost producers in the aluminium industry,” he added. – TradeArabia News Service