Manama (ALBH): Aluminium Bahrain B.S.C. (Alba), the largest aluminium smelter in the world ex-China, was the proud winner of the ‘Metals & Mining Deal of the Year’ by Bonds, Loans & Sukuk Middle East Awards 2023 held on 07 June 2023 at Madinat Jumeirah Conference Centre, Dubai.

Alba was represented in the Awards ceremony by its Sr. Head of Treasury, Ali Al Hanan, who received the award on the behalf of the Company.

Commenting on this award, Alba’s Chief Executive Officer Ali Al Baqali stated:

“We are humbled to have been given this special recognition, which attests our approach to ‘thinking outside the box’ with refinancing our loan and linking it to ESG targets. We believe that Sustainability knows no borders as we aim to boost our efforts on all ESG fronts to meet the Kingdom’s sustainability objectives.”

Since 2014, the Bonds, Loans & Sukuk Middle East Awards have been recognising the most innovative financing deals from Sovereign, Corporate and Financial Institution issuers and borrowers. This year, Alba stood out for being the first Bahraini Company to have successfully achieved sustainability-linked refinancing for its US$1,247,475,000 Syndicated Loan Facility in connection to the Line 6 Expansion Project in April 2022. The new syndication was oversubscribed by US$2.6 billion and comprises 21 banks.

About Aluminium Bahrain B.S.C. (Alba)

[Ticker: ALBH]

At plus-1.6 million metric tonnes per annum (mtpa) (2022), Alba is the world’s largest aluminium smelter ex-China with more than 50 years of excellence in Operations, Safety, Environment and Socio-Economic Development.

A blue-chip asset of the Kingdom of Bahrain, Alba produces high-quality Aluminium products in the form of Standard and Value-Added Products (VAP)s, which are exported to more than 240 global customers through its sales offices in Europe (Zurich), Asia (Singapore) and subsidiary office in the U.S. Alba is dual listed on Bahrain Bourse and London Stock Exchange and its shareholders are Bahrain Mumtalakat Holding Company B.S.C. © (69.38%), SABIC Industrial Investments Company (SIIC) (20.62%) and General Public (10%). Alba holds globally-recognised certifications such as ISO 9001, ISO 14001, ISO 27001, ISO 45001, IATF 16949:2016, ISO 22301:2012 Business Continuity Management System (BCMS) and ASI Performance Standard Certification and Ecovadis Certification.

As the first aluminium smelter in the Middle East, Alba sits at the heart of a thriving aluminium downstream sector in Bahrain, which accounts for approximately 12% of the Kingdom's GDP. As one of the biggest national companies, it has ensured not only the employment of Bahrain nationals (85% in 2022) but also the enhancement of their capabilities through education, training, and development initiatives at every stage of their career.

Alba is recognised as one of the top industrial companies in the world with high standards in Environment practices, Social contribution and Corporate Governance. Launched in February 2022, the Company’s ESG Roadmap outlines 6 priority areas - (1) Decarbonisation, (2) Green Energy & Aluminium, (3) Circular Economy & Secondary Aluminium, (4) Employee Welfare, (5) Collaboration & Partnership and (6) Transparency, Communications & Due Diligence. Since its inception, Alba has invested into numerous environment, sustainable and socio-economic development projects that have had a positive impact on the society. Alba’s first-of-its-kind US$37.5 million zero-waste Spent Pot Lining Treatment Plant, the upcoming 5-7 MW Solar Farm Project and the Power Station 5 Block 4 Project are tangible efforts to meet the goals of the Net Zero Carbon targets by 2060 led by HRH the Crown Prince and Prime Minister of Bahrain. Alba will also play a crucial role in the upcoming Aluminium Downstream Park, which will increase the contribution of non-oil sectors to the GDP of Bahrain.

Alba’s motto ‘Safety First, Safety Always’ has ensured that the Safety and well-being of its employees and contractors’ workforce remain a top priority. The Company broke all previous records in Safety and topped 30 million Safe working-hours without Lost Time Injury (LTI) on 01 September 2022 for the first-time in its history. The Company has been recognised internationally for its excellent Safety and Health track record with awards such as the RoSPA Gold Medal Award (9 years in a row) and International Safety Award with Merit from British Safety Council, as well as six major National Safety Council (NSC) USA awards for 2021. Alba has also been recognised for its initiatives to produce Aluminium responsibly through awards such as Top ESG performer in Bahrain by ESG Invest, Safeguard Label from Bureau Veritas and Best Corporate Governance Award by Ethical Boardroom.

Alba Power Station 5 Block 4 Expansion Project

Alba Power Station 5 (PS5) Block 4 is a Combined Cycle Power Plant that is an expansion of the existing PS5.

PS5 Block 4 Project is the addition of a fourth Block of similar 1:1:1 configuration with J-class gas turbine technology and with minimum nominal ISO rating of a 680.9 MW and includes tie into the existing 220kV Substation. The efficiency of this combined cycle power plant is much higher than the combined cycle power plants of PS3 and PS4. On completion of PS5 Block 4 Expansion Project, the nameplate capacity of PS5 will increase from 1,800 MW to 2,481 MW.

Mitsubishi Power & SEPCOIII consortium will be responsible to design, engineer, procure, construct and commission Block 4. PS5 Block 4 commercial operations are expected to begin in Q4 2024.

For further details, please contact:
Eline Hilal
Director, Investor Relations, Insurance & Corporate Secretary
Investor Relations Department
E-mail:   eline.hilal@alba.com.bh
Website: www.albasmelter.com

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