Aluminium Bahrain (Alba), the Bahrain-based leading international aluminium producer, has launched Phase II of its company-wide, cost reduction programme Project Titan.

The new initiative aims to reduce cash cost by $100 per metric tonne of aluminium and step-up its production capacity to 1 million metric tonnes per annum by end of 2017.

Project Titan Phase II, focused on optimising operational costs and boosting the Company’s production, is an integral part of Alba’s strategy for value creation and reflects the current and expected market conditions in the aluminium industry, said a statement.  

Alba’s chief executive officer Tim Murray said: "Given the tough market conditions, we believe that we can do more than necessary and push ourselves in order to maintain our position as one of the leading, low cost producers in the aluminium industry. Through Project Titan Phase II, we seek to further improve our operational efficiency that will enable us to take advantage of the growth opportunities in the future.”

Alba has begun to conduct information sessions for its employees where members of the executive management team elaborate on specific goals and expectations of Project Titan Phase II.

In February 2014, Alba had launched Project Titan as a two-year efficiency programme to drive revenue growth and boost profitability. Alba recently announced the completion of Project Titan – Phase I with achieved savings of $148 per metric tonne against the set target of $150 per metric tonne. - TradeArabia News Service