17.08.2015, 11:35
Aluminium Bahrain B.S.C. is on schedule with its cost - improvement programme - Project Titan
OREANDA-NEWS. Aluminium Bahrain B.S.C. (Alba), one of the world’s leading aluminium smelters,
is on schedule
with
its
cost
-
improvement
programme
-
Project Titan.
Project Titan, launched in February 2014, is a 2 - year programme that aims at reducing Alba’s cash cost by \\$150/mt.
At the end of June 2015, the program me has unlocked \\$129/mt of savings and Alba is on track to achieve the set target of \\$150/mt by January 2016.
Directed by Alba’s Chief Executive Officer, Tim Murray, Project Titan was launched to ensure that Alba maintain s its position as one of the leading, low cost producers in the aluminium industry.
Commenting on the Project , Mr. Murray said: “ Project Titan is not just a cost - cutting programme ; it is also a training programme where we leverage the use of our operational excellence expertise to create the next generation of leaders from within the company . Given the current LME market pressures and the planned na tural gas price increase over the coming years , the success of P roject Titan is critical to Alba’s future . ”
About Alba:
Aluminium Bahrain B.S.C. (Alba) - one of the largest and modern aluminium smelters in the world - is renowned for its premium grade aluminium products, technological strength and innovative policies, strict environmental guidelines and high track record fo r safety. Established in 1971 as a 120,000 tonnes per annum smelter, Alba today produces more than 931 ,000 metric tonnes per annum of the highest grade aluminium, with products including standard and T - ingots, extrusion billets, rolling slab, properzi ingots, and molten aluminium. Alba is listed on both the Bahrain Bourse and London Stock Exchange, and the Company’s shareholders are Bahrain Mumtalakat Holding Company (69.38%), SABIC Industrial Investment Company (20.62%) and the General Public (10%).
About Line 6 Expansion Project:
Line 6 Expansion Project, expected to begin production by early 2019, will boost the per - annum production by 514,000 metric tonnes, bringing the total production capacity of Alba to around 1.450 million metric tonnes per y ear. Bechtel Canada completed the Bankable Feasibility study for the \\$3.5 billion Line 6 Expansion Project in December 2014. DX+ Technology is selected as the base for Line 6, while J.P. Morgan, Gulf International Bank (GIB) and National Bank of Bahrain (N BB) are the Financial Advisors of the Project. The Line 6 Expansion Project will enhance the downstream industry by creating many co - investment opportunities through local and foreign aluminium investments. It will create hundreds of jobs, directly and in directly, which will be a significant economic boost for the Kingdom of Bahrain.
Project Titan, launched in February 2014, is a 2 - year programme that aims at reducing Alba’s cash cost by \\$150/mt.
At the end of June 2015, the program me has unlocked \\$129/mt of savings and Alba is on track to achieve the set target of \\$150/mt by January 2016.
Directed by Alba’s Chief Executive Officer, Tim Murray, Project Titan was launched to ensure that Alba maintain s its position as one of the leading, low cost producers in the aluminium industry.
Commenting on the Project , Mr. Murray said: “ Project Titan is not just a cost - cutting programme ; it is also a training programme where we leverage the use of our operational excellence expertise to create the next generation of leaders from within the company . Given the current LME market pressures and the planned na tural gas price increase over the coming years , the success of P roject Titan is critical to Alba’s future . ”
About Alba:
Aluminium Bahrain B.S.C. (Alba) - one of the largest and modern aluminium smelters in the world - is renowned for its premium grade aluminium products, technological strength and innovative policies, strict environmental guidelines and high track record fo r safety. Established in 1971 as a 120,000 tonnes per annum smelter, Alba today produces more than 931 ,000 metric tonnes per annum of the highest grade aluminium, with products including standard and T - ingots, extrusion billets, rolling slab, properzi ingots, and molten aluminium. Alba is listed on both the Bahrain Bourse and London Stock Exchange, and the Company’s shareholders are Bahrain Mumtalakat Holding Company (69.38%), SABIC Industrial Investment Company (20.62%) and the General Public (10%).
About Line 6 Expansion Project:
Line 6 Expansion Project, expected to begin production by early 2019, will boost the per - annum production by 514,000 metric tonnes, bringing the total production capacity of Alba to around 1.450 million metric tonnes per y ear. Bechtel Canada completed the Bankable Feasibility study for the \\$3.5 billion Line 6 Expansion Project in December 2014. DX+ Technology is selected as the base for Line 6, while J.P. Morgan, Gulf International Bank (GIB) and National Bank of Bahrain (N BB) are the Financial Advisors of the Project. The Line 6 Expansion Project will enhance the downstream industry by creating many co - investment opportunities through local and foreign aluminium investments. It will create hundreds of jobs, directly and in directly, which will be a significant economic boost for the Kingdom of Bahrain.
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