Aluminium Bahrain B.S.C. (Alba) is on course to hit its annual production growth targets according to a statement issued by the Chairman of Alba’s Board of Directors, Shaikh Daij bin Salman bin Daij Al Khalifa.
The statement was made following the third quarterly meeting for the year 2014 which was held on Wednesday, September 24 at Alba.
The Board approved the 2015 Marketing Plan and looks forward to capitalize on strong physical conditions. In addition, the Board approved the half-yearly financial statements along with the recommendation to distribute interim cash dividends of BD 16.94 million (US$ 45.06 million).
During the meeting, the Board Executive Committee also gave an update on Alba’s Line 6 expansion project.
The Board also studied the reports of the Board Executive Committee, Board Audit Committee, and the Nomination and Remuneration Committee.
Updates were also given by Management on Safety, Financial performance, Project Titan and a review of LME market forecasts.
The Alba Board of Directors comprises six directors appointed by Bahrain Mumtalakat Holding Company, which in addition to the Chairman of the Board, Shaikh Daij bin Salman bin Daij Al Khalifa; include Yousif Abdulla Taqi, Osama Mohammed Al Arrayedh, Fahad Nasser Al-Hazzani, Dr. Mohamed Kameshki and Tony Robinson (Anthony Lee Robinson). The two directors appointed by Sabic Industrial Investments Co (SIIC) are Mutlaq Hamad Al Morshid, Fahad S. Al Sheaibi and the independent director, Abdul Aziz Al Humaid.
The Chairman of Alba’s Board of Directors, Shaikh Daij bin Salman bin Daij Al Khalifa expressed his thanks and appreciation to the Government of Bahrain, led by His Majesty King Hamad bin Isa Al Khalifa, His Royal Highness the Prime Minister Prince Khalifa bin Salman Al Khalifa, and His Royal Highness the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, Prince Salman bin Hamad Al Khalifa.
Shaikh Daij also expressed his gratitude for the continuous support of the Kingdom of Saudi Arabia and the Custodian of the Two Holy Mosques King Abdullah bin Abdul-Aziz Al Saud.
The meeting was attended by Alba’s Senior Executive Management Team as well as other Company officials. The Board expressed their thanks to the Senior Executive Management Team, Managers, Alba employees and their representatives in the Alba Labour Union for their support to boost the company's operations.