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FINANCIAL NEWS
Bahraini Alba gets USD3.5b expansion approval
11 Jun 2015
(MENAFN) Aluminum Bahrain (ALBA) has won government approval for a larger than originally planned USD3.5 billion expansion that will boost its output by more than 50 percent, Arab News reported.
The Line 6 expansion project is expected to boost Alba’s annual output by 514,000 tons to 1.45 million tons a year, with around half of the extra production to be sold to existing and new Bahraini customers.
The production capacity approved by Alba’s board of directors is larger than originally proposed and will increase planned capital expenditure to USD3.5 billion from USD2.5 billion.
The construction is expected to start as early of 2016 and production to begin in 2019, owner of one of the world’s largest smelters of the lightweight metal said in a statement.
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