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FINANCIAL NEWS
Bahrain’s Alba gets approval for USD2.5b expansion of smelter
24 Sep 2014
(MENAFN) Aluminum Bahrain announced it is planning to allocate gas that it needs to support its planned USD2.5 billion sixth production line, expected to start operations in 2018, after receiving the government’s approval, reported by Reuters
Alba, which is the owner of the world’s number 4 aluminum smelter, said it is expecting to get the final approval for the gas pricing structure on the line by the end of 2014
The company then expects that the project will take 36 months to be completed once the approval is secured, while production should begin in the January-March period of 2018.
The Line 6 project will add 400,000 tones to the smelter’s current 890,000-tonne capacity, which will help the company increasing its production and supply the market’s growing aluminum demand, which is predicted to grow by 7 percent by the end of 2014.
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