GE Energy Financial Services has helped Aluminium Bahrain (Alba) secure two loans totalling $670mn to fund a 1.79GW combined cycle gas-fired power plant at its Askar complex on the kingdom’s east coast.

GE says the $310.4mn and €310.3mn ($364.0mn) loans for goods and services are being backed by Swiss export credit agency SERV, with funding coming from the UK’s Standard Chartered, US’s Citi and JP Morgan, France’s Credit Agricole, and Germany’s Commerzbank...