Bahrain's Alba on track to complete debt financing for smelter expansion -official

26/02/2018 05:38 AST

Aluminium Bahrain (Alba), owner of one of the world's largest aluminium smelters, will raise by the end of this year's first quarter the final debt amount needed to fund its Line 6 expansion project, a company official said. With Line 6, Alba will become the world's largest single aluminium smelter complex, increasing production capacity by 540,000 metric tonnes to a total capacity of 1.5 million tonnes per year, the company says.

The project involves capital expenditure of around $3 billion (Dh11 billion). Of this amount, $1.5 billion was funded through a syndicated loan raised in 2016, $400 million was funded internally, and $700 million was borrowed last year through loans guaranteed by export credit agencies.

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