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FINANCIAL NEWS
Aluminum Bahrain seeks approval for USD2.5b expansion
13 May 2015
(MENAFN) Aluminum Bahrain B.S.C., or simply Alba, is currently waiting for an approval for a USD2.5 billion expansion project, which is dubbed Line 6 and will be undertook this year, Reuters reported.
Aluminum Bahrain is one of the largest industrial companies in the Middle East and is one of the top ten largest aluminum producers in the world.
Line 6 will help in increasing the company’s annual capacity to about 1.3 million metric tons. However, the plan is still pending and is contingent upon an approval for a gas pricing structure from the government.
‘I am optimistic that we will get approvals in 2015. We are pushing as a management very hard for this move forward. This will be announced when the project is announced,’ Alba’s chief executive said.
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