Alba on track to exceed 2011 production
Manama, December 5, 2012
Aluminium Bahrain (Alba) remains on target to exceed the 2011 production of 881,310 metric tonnes while at the same time focusing on future growth strategies, said the company’s chairman.
Mahmood Hashim Al Kooheji also announced the launch of Line 6 bankable feasibility study, which will play a major role in Alba’s growth, at the last quarterly Board meeting for the year held today (December 5) at the Kempinski Grand & Ixir Hotel in Bahrain.
Line 6 expansion project is expected to add an additional capacity of 400,000 metric tonnes bringing Alba’s total production to 1.3 million metric tonnes per annum.
“2012 has been a volatile year for the aluminium industry however even in the face of tough market conditions Alba has remained resilient by bolstering its operational performance,” Al Kooheji said.
The Board gave its approval to the 2013 annual operating plan, the 2013 capital expenditure plans, the 2012 corporate governance report, and the third quarter 2012 financial statements.
The Board reviewed overall company performance as well as updates from the Board Audit, Human Resource and Board Strategic Committees.
The Board undertook a self-performance evaluation during the meeting. The individual directors made a complete declaration as per the guidelines outlined in the corporate governance code. – TradeArabia News Service