Alba set right its strategic growth plan for Q4 2023 at the recent board meeting, with key focus on Line 7 Project

Aluminium Bahrain B.S.C (Alba), in its third quarterly Board of Directors’ virtual meeting on September 28, underpinned that delivering consistent performance amid uncertain macroeconomic outlook would be their top priority for the next quarter. Chairman of the Board Shaikh Daij Bin Salman Bin Daij Al Khalifa said, “We remain focused on our operational excellence and lean cost structure to finish 2023 strong.”

The Board meeting witnessed reviews and evaluations of reports, future strategies, and upcoming projects. The directors reviewed reports of the Executive and ESG Committee, Board Audit Committee and the Nomination, and Remuneration and Corporate Governance Committee. They also evaluated and discussed strategic developments such as the proposed Line 7 Project, the progress of Power Station 5 (PS5) Block 4 Project, and various initiatives under the ESG Roadmap in line with Alba’s 5-year strategy.

In the Q2 report, Chairman Shaikh Daij Bin Salman Bin Daij Al Khalifa noted that Alba is on course to with Line 7’s Feasibility Study, conducted by Bechtel, a US-based engineering, procurement and construction (EPC) company. 

At the board meeting, Shaikh Daij Bin Khalifa extended appreciation to Alba’s Chief Financial Officer, Bryan Harris, for playing a pivotal role in driving financial performance for over a decade. However, unfortunately, Mr Harris is stepping down from the position on October 2, 2023, and he will be succeeded by Ahmed Abdul Qader, unanimously appointed by the Board as the Acting Chief Financial Officer. Chairman of the Board welcomed Ahmed Abdul Qader and wished him the best for his new role.

Alba’s Board is comprised of six directors appointed by Bahrain Mumtalakat Holding Company B.S.C.© - Chairman Shaikh Daij Bin Salman Bin Daij Al Khalifa, Shaikh Isa bin Khalid Al Khalifa, Mr Tim Murray, Ms Roselyne Renel, Mr Omar Syed and Mr Bruce Cox; three directors appointed by SABIC Industrial Investments Co. (SIIC) - Mr Ahmed Alduriaan, Mr AlWaleed AlSenani and Mr Omar A. Al-Amoudi; and one elected director Ms Hala Abdul Hameed Mufeez.