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FINANCIAL NEWS
Bahrain’s Alba to invest USD2.5b by 2015 to boost output
08 Jun 2012
(MENAFN) Aluminum Bahrain (Alba) plans to invest USD2.5 billion on boosting output between now and 2015, Bloomberg reported.
CEO Laurent Schmitt said that the cash will be utilized in adding a new production line to boost output capacity by 30 percent to 400,000 tonnes of aluminum per year, totaling 1.3 million tonnes.
The investment will also involve a power generation necessary for producing aluminum, which is generally a very energy-intensive process.
Schmitt expected the price of aluminum to recover from last year’s 30 percent decline, which led rival producers in the US and Europe to close plants.
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