Alba launches new cost efficiency programme
Manama, February 24, 2014
Aluminium Bahrain (Alba), one of the largest smelters in the world, has announced Project Titan - an efficiency programme initiated with the objective to reduce cash cost by $150/mt by end of January 2016.
Already in the implementation phase, the two-year project (February 2014 to January 2016) is expected to generate a significant amount of savings, majority of which will be invested in projects that will drive future growth in strategic areas of business.
On the project implementation, Alba’s manager for Operational Excellence, Waleed Tamimi said: “We remain committed to improve Alba's efficiency without compromising safety, quality or effectiveness. Project Titan, through its cost initiatives in various areas of operations, aims to drive revenue growth as well as boost profitability, thus strengthening Alba’s position in the industry.”
The results of Project Titan will be measured against baseline of 2013 actuals and not the budget and will be visible in the company’s financial statements.-TradeArabia News Service