Alba continues to make solid progress on Line 6 Expansion Project

<p>Aluminium Bahrain B.S.C. (Alba), the Bahrain-based international aluminium smelter, has been taking solid steps with the progress of Line 6 Expansion Project, according to a statement issued by the Chairman of Alba&rsquo;s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa.</p> <p style="text-align: center;"><img style="vertical-align: middle;" src="http://www.alcircle.com/uploads/images/Board%20Meeting.jpg" alt="News" width="517" height="226" /></p> <p>The statement was made at the second quarterly meeting for this year, held on Thursday, 25 May 2017 at Alba.</p> <p>Adding further, Shaikh Daij said:</p> <p>&ldquo;We are very pleased with securing the first tranche of Export Credit Agency (ECA), c. US$ 700 million, and we expect another US$300 - US$400M of ECA-covered financing to be closed by the end of the 3^rd quarter which will fully secure Line 6 financing. &nbsp;</p> <p>I would also like to thank the Alba team for the significant progress in restoring reduction line 5. We look forward to fully resuming Line 5 production both safely and as soon as possible.&rdquo;</p> <p>During the meeting, the Board approved the minutes of the previous meeting, which was held on 9 February 2017 as well as the membership of the Standing Committees of the Board.</p> <p>{googleAdsense}&nbsp;</p> <p>In addition, the Board reviewed reports of the Executive Committee, Board Audit Committee and the Nomination and Remuneration Committee. Further updates were given on reports related to Safety, Financial Performance, Line 6 Expansion Project progress, Power Outage, Project Titan &ndash; Phase II along with overall Industry Market trends.</p> <p>The Board, also, approved the appointment of Hassan Noor as the acting Chief Operations Officer (COO) and Amin Sultan as the Chief Power Operations with immediate effect.&nbsp;</p>