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FINANCIAL NEWS
Bahrain’s Alba expects planned new line to operate in 2015
18 Feb 2012
(MENAFN) Aluminum Bahrain (Alba) said it expects its planned sixth production line to be completed by early 2015, Reuters reported.
CEO Laurent Schmitt said the company is carrying out feasibility studies, expecting banking feasibility studies to be ready by 2013.
He added that the planned new line is poised to produce 400,000 tons annual, an addition to Alba’s current output of 881,000 tons a year.
Alba, the operator of the world’s fourth largest smelter, reported 84 percent fall in fourth quarter profits to USD16 million due to unrealized derivatives.
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