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Aluminium Bahrain (ALBH)

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Tuesday 07 March, 2017

Aluminium Bahrain

Dividend announcement and AGM agenda

RNS Number : 7093Y
Aluminium Bahrain B.S.C.
07 March 2017
 

 

Dividend announcement and AGM agenda

 

Please find attached the invitation dividend announcement and agenda of Alba's General Meeting of Shareholders that is due to be held on the 21th of March 2017, at 10:30 AM, Al Dana Hall, Alba, King Hamad Highway, Kingdom of Bahrain.

http://www.rns-pdf.londonstockexchange.com/rns/7093Y_-2017-3-7.pdf 

http://www.rns-pdf.londonstockexchange.com/rns/7093Y_1-2017-3-7.pdf

About Alba:

Aluminium Bahrain B.S.C. (Alba) - one of the largest and modern aluminium smelters in the world - is renowned for its premium grade aluminium products, technological strength and innovative policies, strict environmental guidelines and high track record for safety. Established in 1971 as a 120,000 tonnes per annum smelter, Alba today produces more than 971,000 metric tonnes per annum of the highest grade aluminium, with products including standard and T-ingots, extrusion billets, rolling slab, properzi ingots, and molten aluminium.

 

Alba is listed on both the Bahrain Bourse and London Stock Exchange, and the Company's shareholders are Bahrain Mumtalakat Holding Company (69.38%), SABIC Industrial Investment Company (20.62%) and the General Public (10%).

 

 

About Line 6 Expansion Project:

 

Alba's Line 6 Expansion Project is one of the largest brownfield developments in the region. Expected to begin production by early 2019, this Project will boost the smelter's per-annum production by 540,000 metric tonnes, bringing its total production capacity to around 1.5 million metric tonnes per year.

With a CAPEX of approximately US$ 3 billion, the Line 6 Expansion Project involves the construction of a sixth pot line utilising EGA's proprietary DX+ Ultra Technology, a 1,792 MW power station and other industrial services.

Bechtel is the EPCM contractor for the Line 6 Expansion Project smelter. For Power Station 5 (PS 5), GE and GAMA Consortium was awarded the EPC contract, while Siemens is the Power Distribution System contractor.  J.P. Morgan, Gulf International Bank (GIB) and National Bank of Bahrain (NBB) are the Financial Advisors for this Project.

The Bankable Feasibility Study was completed by Bechtel in December 2014. In June 2015, Alba Board approved the Line 6 Expansion Project and in November 2015, Alba secured the natural gas supply for this Project.

The Line 6 Expansion Project will make Alba the world's largest single-site aluminium smelter and be a significant economic boost for the Kingdom of Bahrain due to the many co-investment opportunities through local and foreign aluminium investments.

 

 

For further details, please contact:

 

Eline Hilal

Investor Relations Manager 

Investor Relations Department

 

Tel:        (973) 1783 5100 (direct)

Fax:        (973) 1783 3822

E-mail: [email protected]

Website: www.albasmelter.com.bh

 

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This information is provided by RNS
The company news service from the London Stock Exchange
 
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