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FINANCIAL NEWS
Bahrain’s Alba expansion to cost USD2.5b
27 Nov 2014
(MENAFN) Bahrain’s Alba announced that the construction work on the proposed sixth production line, which is expected to start early next year, is expected to cost USD2.5 billion, Gulf Daily News reported.
Alba said that the sixth line project is expected to add 400.000 tons to the smelter’s current capacity of more than 900.000 tons, which will enable the company to realize its goal of remaining one of the largest smelters in the world, with the project expected to take 36 months for completion from the commencement date.
“The initiative will help Bahrain capture a significant portion of the aluminum value chain, creating many co-investment as well as employment opportunities downstream,” Alba’s Director said.
Alba also said the company is working on increasing its production, especially amid expectations that aluminum demand is going to increase by 7 percent this year.
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