Alba Announces Joint Venture and Digital Initiatives at Gateway Gulf 2024
Aluminium Bahrain (Alba) made two key announcements on November 3 at the Gateway Gulf 2024 investment forum in Manama, hosted by the Bahrain Economic Development Board.
Alba and Japan's Daiki Aluminium Industry Company will form a joint venture called Alba-Daiki Sustainable Solutions (ADSS) to set up an aluminium dross processing facility in Bahrain. Alba will hold a 70% stake, while Daiki will own 30%. The plant, expected to start operations by September 2026, will process aluminium dross—a byproduct of aluminium melting—to recover metal and produce aluminium oxide, enhancing sustainability.
Alba also announced a collaboration with Bahrain-based Array Innovation to accelerate its Industry 4.0 digitalization journey. The initiative will use advanced AI, data analytics, and automation to optimize operations and boost efficiency.
Recently, Alba informed the Bahrain Bourse about appointing advisors for due diligence in a potential business combination with Saudi Arabian Mining Company (Maaden). Advisors include Moelis & Company, Hatch, McKinsey & Company, and PricewaterhouseCoopers.
In September, Saudi Basic Industries Corporation (Sabic) announced plans to sell its 20.62% shareholding in Alba to Maaden for $965 million to $1.06 billion, pending regulatory approvals.
Alba also renewed a long-term agreement with Alcoa Corporation for alumina supply, with Alcoa providing up to 16.5 million tonnes over ten years starting in 2026. Additionally, Alba approved a $30 million project to boost production capacity by 8,000 metric tonnes annually from its fourth and fifth lines.
