Trade Resources Company News Aluminium Bahrain Inked USD169 Million Bank Loan Agreements with Several Banks

Aluminium Bahrain Inked USD169 Million Bank Loan Agreements with Several Banks

MENAFN reported that Aluminium Bahrain stated that it has inked USD169 million bank loan agreements with several banks to refinance a bond maturing in March

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 USD 2.5 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 tonne 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 tonne.

Source: http://www.steelguru.com/metals_news/Alba_inks_USD_169_million_loan_agreements/296767.html
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Alba Inks USD 169 Million Loan Agreements
Topics: Metallurgy