Bahrain- Alba inks USD169m loan agreements| MENAFN.COM

Monday, 15 August 2022 04:40 GMT

Bahrain- Alba inks USD169m loan agreements

(MENAFN) Aluminium Bahrain (Alba), stated that it has inked USD169 million bank loan agreements with several banks to refinance a bond maturing in March, reported Arabian Business. Alba said that it inked a USD85 million 5-year loan deal with a local commercial bank in the Gulf, in addition to a syndicated 3-year loan of USD84 million that was inked with 4 regional commercial banks and a Japanese bank. At the start of the month, the company said that it has assigned Bechtel Canada to carry out a feasibility study for Alba's USD2.5 billion expansion plan. The study, which is forecasted to complete by next year's third quarter, will asses the economics of establishing Line 6 and a fifth power station at the site. Alba noted that the 6th production line is expected to boost capacity by 400,000 tons a year. It added that the establishment of the new line could be finished by early 2015. It is worth noting that at the current time, Alba's annual production stands at 881,000 tons.

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