Alba Line 6 on schedule
Manama : Aluminium Bahrain (Alba) announced yesterday that it is making solid progress in its Line 6 Expansion, with the company securing first tranche of the Export Credit Agency (ECA), c. US$700 million financing.
“We expect another US$300 - US$400M of ECA-covered financing to be closed by the end of the third quarter which will fully secure Line 6 financing,” said the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa in a statement.
The statement was made at the second quarterly meeting for this year, held on Thursday at Alba.
Adding further, Shaikh Daij said: 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.”
During the meeting, 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.
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