VOL. XLV

No 47

25-November-2002

BAHRAIN

Banks Compete To Finance $1.5Bn Alba Expansion Project

Three banking groups are competing for a mandate to provide the financing for a $1.5bn project which will increase Aluminium Bahrains (Alba) production capacity by 50% from 500,000 tons/year to 750,000 t/y. The project, which will make Alba the largest aluminium producer in the Middle East, was approved by Bahrains cabinet in September last year (MEES, 1 October 2001). Talks between Alba and the three...