Alba chairman Shaikh Daij: honoured

Alba chairman Shaikh Daij: honoured

Alba makes progress on Line 6 Expansion

01 June 2017

Aluminium Bahrain (Alba) has been taking solid steps towards the implementation of its Line 6 Expansion Project, according to Shaikh Daij Bin Salman Bin Daij Al Khalifa, chairman of Alba’s board of directors.

In a statement made at the second quarterly meeting for this year, at Alba, Shaikh Daij said: “We are very pleased with securing the first tranche of Export Credit Agency (ECA), $700 million, and we expect another $300 million - $400 million of ECA-covered financing to be closed by the end of the 3rd quarter which will fully secure Line 6 financing. 

“I would also like to thank the Alba team for the significant progress in restoring reduction line 5. We look forward to fully resuming Line 5 production both safely and as soon as possible,” he said.

During the meeting, the board approved the minutes of the previous meeting, which was held on February 9 as well as the membership of the standing committees of the board. 

In addition, the board reviewed reports of the Executive Committee, Board Audit Committee and the Nomination and Remuneration Committee. Further updates were given on reports related to safety, financial performance, Line 6 Expansion Project progress, power outage, Project Titan – Phase II, along with overall industry market trends.

The board also approved the appointment of Hassan Noor as the acting chief operations officer (COO) and Amin Sultan as the chief, power operations with immediate effect.

The Alba board comprises six directors appointed by Bahrain Mumtalakat Holding Company, which in addition to Shaikh Daij, includes Yousif Abdulla Taqi, Osama Mohammed Al Arrayedh, Yaser E Humaidan, Dr Mohamed Kameshki and Suha Karzoon. The two directors appointed by Sabic Industrial Investments Co (SIIC) are Ali Al Shamrani and Ahmed Mohammad A Al Jabr and the two independent directors are Uwaidh Khalaf H Al Harethi and Mutlaq Al-Morished.

Meanwhile, the Bahrain-based aluminium smelter, has won the Ethical Boardroom Corporate Governance 2017 Award in the Middle East.

The award recognised Alba for its outstanding corporate governance policies as well as maintaining good practices in accountability and transparency in the region, said a statement.

Ethical Boardroom, a leading international publication on corporate governance and ethics, recognises Middle East leaders who have exhibited exceptional leadership in the area of governance to ensure protection and long-term value for all their stakeholders.

Speaking on this occasion, Shaikh Daij said: “We pride ourselves on the open and transparent manner in which Alba operates. We are also grateful that the efforts undertaken by our board of directors and executive management to protect the rights of our valued shareholders as well as safeguard the company’s values are being recognised by the Ethical Boardroom.”

Alba was one of the earliest companies in the region to launch its own confidential reporting system and its Code of Conduct, which outlines the ethical parameters that govern the company, sets rules in the way business is conducted, provides guidelines in interactions with customers, suppliers and other external bodies as well as ensures that organisational behaviour remains in line with the values of the company. 

The company also appointed Hisham Al Kooheji as the new manager for customer services and marketing operations.

Al Kooheji joined Alba in April 2011 as an operational excellence specialist and was appointed as the head of compliance and pricing in May 2016.  He was designated the role of acting manager customer services and marketing operations in November 2016.Additionally, it appointed Ahmed Bahar as its new manager for operational excellence.

A Bahraini national, Bahar joined Alba in 2004 as a Supervisor and in 2008 was selected to undergo Alba’s training and development programme for the position of head of shipping.

Moreover, he also held various supervisory posts: head of supply – commercial and raw material, head of alumina supply and trading and team leader of procurement task force.

In 2016, Bahar joined the Operational Excellence Department and was made acting manager operational excellence in October 2016.

Ahmed holds an MBA from Ahlia University, Bahrain and has a BSc in Maritime Transport with Logistics and Economics Management as well as a special certificate in supply chain and lean management.

In another honour for the aluminium major, it revealed that its safety, health and environment (SHE) senior manager Moh’d Khalil has been honoured with The Royal Society for the Prevention of Accidents (RoSPA) 2017 Guardian Angel Award.

Khalil was presented with the award for his exceptional commitment and contribution towards the safety and health of Alba employees, said a statement from the company. Khalil will be presented with his RoSPA Guardian Angel Award at a ceremony at ExCeL London on June 20, it said.

Alba’s second quarterly meeting for this year in progress at Alba, Bahrain.

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