Alba holds first in-person meeting since pandemic

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Aluminium Bahrain (Alba), the world’s largest aluminium smelter ex-China, announced holding its first in-person Board of Directors meeting for the third quarter of 2021 yesterday at Alba Oasis Hall.

The Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa, thanked Bahrain’s Leadership for everything they have done since the start of the COVID-19 pandemic. Shaikh Daij thanked His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, for his hands-on efforts, along with all front liners in Bahrain.

“We were able to conduct this Board Meeting in-person since the start of the COVID-19 pandemic back in 2020 thanks to the hands-on efforts put through in the last 1.5 years,” he told the Board of Directors and Alba Executives.

Adding added, “As we navigate through this pandemic, we have set new benchmarks in terms of operational and financial performance (breaking records in terms of higher production, EBITDA and Net Profits for the first half of 2021) as well as on the ESG front especially.” Alba, he said, had recently signed a Memorandum of Understanding with Sustainable Energy Authority (SEA) to implement various sustainable energy initiatives of common interest.

“This will consolidate our efforts one step further towards our race towards decarbonisation.” The meeting provided insights on Alba’s overall performance in terms of Productivity amidst high raw materials prices, overall Sales with the global logistics’ issue, Safety (achieving more than 16.5 million safe working hours to date and more than 99.7% vaccination in our workforce) and Plant performance, financial performance-to-date, Al Hassalah programme, and Spent Pot Lining Treatment Plant construction progress.

In addition, an update was given on the 5-year strategic initiatives to include a feasibility study on the possibility of Alba power assets’ spin-off. The Board meeting decided not to pursue this matter given the high risks associated with the divestment of the company’s power assets.