Printer Friendly

Alba Signs Long-term Loan Agreements.

Manama-Dec27 (BNA) Aluminium Bahrain( Alba) said on Thursday that it has entered into term term loan agreements to refinance a $169m bond which is due to expire in March.

The term loans include a bilateral five-year loan of $85m with Gulf International Bank and a syndicated three-year loan of $84m with Ahli United Bank, National Bank of Bahrain, Tokyo-Mitsubishi UFJ Ltd, Arab Banking Corporation and Bank of Bahrain and Kuwait.

Alba, which owns the world's fourth-largest aluminium smelter, said earlier this month that it has hired Bechtel Canada to conduct the feasibility study for its proposed $2.5bn expansion plan to add a sixth production line.

Alba has said previously the new line - which will add 400,000 tonnes annual capacity to its current production of 881,000 tonnes a year - could be completed by early 2015.

The feasibility study will evaluate the economics of building Line 6 as well as a fifth power station at the site, a statement to Bahrain's stock exchange said. The study is expected to be completed by the third quarter of 2013.

AHN.

Publishing Rights Reserved to Bahrain News Agency 2003 - 2012

Provided by Syndigate.info an Albawaba.com company
COPYRIGHT 2012 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2012 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Bahrain News Agency
Geographic Code:7BAHR
Date:Dec 27, 2012
Words:196
Previous Article:His Majesty the King offers condolences to Saudi Deputy Defense Minister.
Next Article:GCC Chief Hails UAE Security Agencies.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters