Aluminium Bahrain, also known as Alba, has announced that it has secured commitments of about $700 million from Export Credit Agency (ECA) supported facilities to finance its Line 6 Expansion Project.
Expected to start metal production in early 2019, Line 6 will boost the annual production by 540,000 metric tonnes upon its full ramp-up, the company said in a statement.
It said the new line will bring Alba’s total production capacity to 1,500,000 metric tonnes per annum, making it the world’s largest single-site aluminium smelter.
Alba’s chairman, Sheikh Daij Bin Salman Bin Daij Al Khalifa, said: “Securing the financing... is a strong vote of confidence in Line 6 Expansion Project. We look forward to work with the Swiss and German Governments as well as with GE and Siemens to progress with Line 6 as per schedule.”For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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