Shaikh Daij: committed to a strong finish

Aluminium Bahrain (Alba), the largest smelter in the world outside China, is committed to have a “strong finish” in 2020 by meeting its 2020 production target of 1.54 million metric tonnes (mt) despite Covid-19 challenges, according to the chairman of the firm’s board of directors, Shaikh Daij Bin Salman bin Daij Al Khalifa.

This was announced by Shaikh Daij at the company’s virtual Board of Directors’ meeting for the Q3 2020 where the board reviewed the reports of the Executive Committee; the Board Audit Committee; and the Nomination, Remuneration, and Corporate Governance Committee.

The firm’s safety initiatives, financial performance-to-date, Titan-Phase IV, operational productivity, as well as the overall market sentiment amidst COVID-19 were discussed during the meeting.

Shaikh Daij said: “As we navigate through this unprecedented time, Alba is reforming itself by capitalising on its safety culture and human assets, increasing its operational resilience and agility, and re-thinking its cost structure.”

“Despite the challenges, we remain committed to have a strong finish by meeting our 2020 Production Target of 1,540,000 metric tonnes.”

The board comprises six directors – including Shaikh Daij bin Salman bin Daij Al Khalifa, Yousif Abdulla Taqi, Suha Karzoon, Shaikh Isa Bin Khalid Al Khalifa, Tim Murray, and Rasha Sabkar – appointed by Bahrain’s Mumtalakat Holding Company.

The three directors appointed by SABIC Industrial Investments Co. (SIIC) are Ahmed Al Duriaan, Iyad Al Garawiand, and Omar Al Amoudi, with one elected director, Mutlaq Al Morished.

Meanwhile, the aluminum smelter has been honoured with two prestigious awards Leading Corporate for Investor Relations in Bahrain and Best Investor Relations Professional Bahrain at the 2020 Middle East Investor Relations Association Annual Conference and Awards Ceremony that was held virtually.

The MEIRA Annual Conference and Awards is the largest Investor Relations event in the Mena  region, which recognises the efforts of regionally listed companies and IR professionals for their critical role in shaping the IR landscape.

It is also a platform for locally listed firms, international corporates, investors, research analysts, advisors, and Regulatory bodies to share best practices and discuss the market challenges.

Commenting on the win, Alba’s CEO Ali Al Baqali said: “We never know what kind of market set-up will have for us, but we have this one opportunity to make a first impression – with investors and financial community.”