28 Sep 2022

Alba holds its Board Meeting for Third Quarter of 2022

Aluminium Bahrain B.S.C (Alba), one of the world’s largest aluminium smelters, held its third quarterly Board of Directors’ meeting at the Al Dana Hall on Wednesday 28 September 2022.

The Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa, started the Board meeting with: “A thank you note on behalf of the Directors to Alba Executives, Management, employees, and contractors’ personnel for the exceptional Safety record with Alba setting a precedent in its Safety performance with more than 31 million safe working hours without LTI.”

Adding further: “To further grow, we must do something beyond of what we have already mastered. With the first concrete pour at Power Station 5 Block 4, we advance closer to meet our ESG objectives.

As we step in the last quarter of this year, we remain focused to embrace the challenges we see in today’s market as opportunities to finish 2022 strong.”

During this meeting, the Board of Directors discussed and approved the Minutes of the previous meeting on 11 August 2022 as well as reviewed Reports of the Executive and ESG Committee, Board Audit Committee and the Nomination, Remuneration and Corporate Governance Committee. Individual Directors’ Complete Declaration and an update on the Independence of each Alba Board Director were also given during this meeting. The Chairman of the Board shared the latest developments on the proposed Line 7 Project. In addition, insights were given on the Company’s productivity and financial performance to-date as well as Sales with the global logistics’ challenges.

The Board also reviewed the Company’s ESG developments to include the debut of Power Station 5 (PS5) Block 4’s construction Project, which will bring Alba one step closer in its race towards decarbonization in terms of higher efficiency and lower greenhouse gas (GHG) emissions. Moreover, the Board was apprised of the successful closure of the financing with Sinosure Export Credit Agency in relation to this Project.

Including the Chairman of the Board, Shaikh Daij Bin Salman Bin Daij Al Khalifa, the Alba Board of Directors comprises six directors appointed by Bahrain Mumtalakat Holding Company B.S.C. © – Mr. Yousif A. Taqi, Mrs. Suha Karzoon, Shaikh Isa Bin Khalid Al Khalifa, Mr. Tim Murray and Mrs. Rasha Sabkar. The three directors appointed by Sabic Industrial Investments Co. (SIIC) are Mr. Ahmed Alduriaan, Mr. Iyad Al-Garawi and Mr. Omar A. Al-Amoudi and one elected director, Mr. Mutlaq Hamad Al-Morished.

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