Aluminium Bahrain B S C : Alba holds its Board Meeting for Third Quarter of 2022
September 28, 2022 at 01:36 pm
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Aluminium Bahrain B.S.C (Alba), one of the world's largest aluminium smelters, held its third quarterly Board of Directors' meeting at the Al Dana Hall on Wednesday 28 September 2022.
The Chairman of Alba's Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa, started the Board meeting with: "A thank you note on behalf of the Directors to Alba Executives, Management, employees, and contractors' personnel for the exceptional Safety record with Alba setting a precedent in its Safety performance with more than 31 million safe working hours without LTI."
Adding further: "To further grow, we must do something beyond of what we have already mastered. With the first concrete pour at Power Station 5 Block 4, we advance closer to meet our ESG objectives.
As we step in the last quarter of this year, we remain focused to embrace the challenges we see in today's market as opportunities to finish 2022 strong."
During this meeting, the Board of Directors discussed and approved the Minutes of the previous meeting on 11 August 2022 as well as reviewed Reports of the Executive and ESG Committee, Board Audit Committee and the Nomination, Remuneration and Corporate Governance Committee. Individual Directors' Complete Declaration and an update on the Independence of each Alba Board Director were also given during this meeting. The Chairman of the Board shared the latest developments on the proposed Line 7 Project. In addition, insights were given on the Company's productivity and financial performance to-date as well as Sales with the global logistics' challenges.
The Board also reviewed the Company's ESG developments to include the debut of Power Station 5 (PS5) Block 4's construction Project, which will bring Alba one step closer in its race towards decarbonization in terms of higher efficiency and lower greenhouse gas (GHG) emissions. Moreover, the Board was apprised of the successful closure of the financing with Sinosure Export Credit Agency in relation to this Project.
ALBA - Aluminum Bahrain BSC published this content on 28 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 September 2022 12:35:01 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%).