Alba inks MoU with HJJ to explore future upstream development opportunities
Aluminium Bahrain B.S.C. (Alba), the world’s largest aluminium smelter ex-China, is pleased to announce that it has signed a Memorandum of Understanding (MoU) with Hangzhou Jinjiang Group Co. Ltd (HJJ), a leading alumina producer with an annual nameplate capacity of 10 million tonnes in China.
The virtual signing ceremony - held in November 2020 - was attended by Alba’s Chairman of the Board Shaikh Daij bin Salman bin Daij Al Khalifa, the Owner of HJJ Mr. Dou Zhenggang and the Company’s Chairman Madam Wang Yuanluo in the presence of Alba CEO Mr. Ali Al Baqali and other top officials from Alba and HJJ.
The MoU serves as a framework to form a strategic potential collaboration between both entities in terms of securing Alba’s alumina requirements.
On this occasion, Alba’s Chairman of the Board Shaikh Daij bin Salman bin Daij Al Khalifa commented:
“This Memorandum of Understanding translates Company’s strategy to have a vertically integrated business model as well as partially hedge against Alumina price volatility and supply constraints.
We are also excited to explore more avenues for collaboration with HJJ which will further consolidate Alba’s status as one of the world’s leading aluminium producers.”
The Chairman of Hangzhou Jinjiang Group Co. Ltd Madam Wang Yuanluo added:
“This MoU represents the first and important step for Aluminium Bahrain and Hangzhou Jinjiang Group as they commence a long and mutually beneficial relationship.
We, Hangzhou Jinjiang Group, a leading Alumina producer, are committed to our international expansion plans, building and operating Alumina refineries in strategic locations, to provide high quality products at competitive terms to our valuable customers”.
The MoU will remain in effect for a period of three years and can be extended based upon mutual agreement amongst both parties.