Aluminium Bahrain B S C : Alba Holds Board Meeting for Q4 of 2020
November 29, 2020 at 07:53 am EST
Share
View Arabic version (PDF)
Aluminium Bahrain B.S.C (Alba), the world's largest aluminium smelter ex-China, is on track to finish 2020 strong despite the challenges of the year, as stated by the Chairman of Alba's Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa during the fourth quarterly Board of Directors' meeting held virtually on Sunday 29 November 2020.
Adding further, Shaikh Daij Bin Salman Bin Daij Al Khalifa said:
'2020 has been a year of exceptional events on many fronts. Our secret to adapt to the changes and find our new balance is to focus our efforts, not on challenging today's status quo, but on building the new and resilient Alba as we prepare ourselves to start 2021.'
During the meeting, the Board approved the Minutes of the previous Board Meeting held on 27 September 2020 as well as reviewed Reports of the Executive Committee, Board Audit Committee and the Nomination, Remuneration and Corporate Governance Committee. The Board also discussed and approved a Memorandum of Understanding (MoU) with Hangzhou Jinjiang Group Co. Ltd (HJJ), a leading alumina producer in China, to secure Alba's long-term alumina requirements as well as a new proposal to creep Lines4-5. During the meeting, various updates were given on Safety and Plant Operational performance amidst COVID-19, insights on the overall market conditions as well as Alba's Financial Performance to-date.
ALBA - Aluminum Bahrain BSC published this content on 29 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2020 12:52:01 UTC
Aluminium Bahrain BSC (Alba) is a Bahrain-based company engaged in manufacturing aluminum and aluminum related products. The Company produces more than 890,000 metric tons annually and exports its production to regional and international customers in the Middle East, Europe, Far East, South East Asia, Africa and North America. Albaâs products include standard and T-ingot, extrusion billets, rolling slab, propertzi ingots, and molten aluminum. Alba plant comprises five reduction lines, three cast houses, a dedicated carbon plant, a 550,000 metric tons per annum (mtpa) coke calcining plant, a water desalination plant, 11 fume treatment plants, a marine terminal, and a 2.225 megawatt (MW) power plant, consisting of four power stations. Its main shareholder is Bahrain Mumtalakat Holding Company (69.38%).