MENAFN reported that Aluminium Bahrain stated that it has inked USD169 million bank loan agreements with several banks to refinance a bond maturing in March
Alba said that it inked a USD85 million 5 year loan deal with a local commercial bank in the Gulf,in addition to a syndicated 3 year loan of USD84 million that was inked with 4 regional commercial banks and a Japanese bank.
At the start of the month,the company said that it has assigned Bechtel Canada to carry out a feasibility study for Alba's USD 2.5 billion expansion plan.
The study,which is forecasted to complete by next year's third quarter,will asses the economics of establishing Line 6 and a fifth power station at the site.
Alba noted that the 6th production line is expected to boost capacity by 400,000 tonne a year.
It added that the establishment of the new line could be finished by early 2015.
It is worth noting that at the current time,Alba's annual production stands at 881,000 tonne.