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FINANCIAL NEWS
Bahrain’s Alba project cost cut by USD 500mn
31 May 2016
(MENAFN) Aluminium Bahrain (Alba) proclaimed that the global decline in oil prices has reduced the projected capital cost of its Line 6 expansion by USD 500mn to USD 3bn.
Moreover, the Line 6 project is predicted to enhance Alba’s annual output by 540,000 tons to 1.5mn tons a year.
Meanwhile, the firm also said it was continuing to explore various possibilities for the structuring and financing of the project.
The company is pleased to cut the debt burden when financing the construction of the sixth pot line and Power Station 5.
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