Gulf’s earliest aluminium producer ‘ALBA’ held its Q3 BoD meeting in-person for the first time since COVID-19

On 29^th September 2021, Aluminium Bahrain B.S.C (Alba) held its first in-person BoD Meeting for the third quarter of 2021 at Alba Oasis Hall. 

Shaikh Daij Bin Salman Bin Daij Al Khalifa, the Chairman of Alba’s Board of Directors, started the Board meeting with a welcoming note to the Board of Directors and Alba Executives and stated: “We are very thankful to the Kingdom of Bahrain’s Leadership for everything they have done since the start of COVID-19 pandemic and towards His Royal Highness Prince Salman bin Hamad Al Khalifa the Crown Prince and Prime Minister for his hands-on efforts along with all frontliners' in Bahrain to bring us to where we are today: citizens and residents in order to keep us safe. We were able to conduct this Board Meeting in-person since the start of the COVID-19 pandemic back in 2020 thanks to the hands-on efforts put through in the last 1.5 years.”

The Chairman further added: “While the value of human interaction cannot be overlooked, we, at Alba, have been agile as we have implemented virtual meetings from the onset and have recently started to transition into in-person meetings.”

“As we navigate through this pandemic, we have set new benchmarks in terms of operational and financial performance (breaking all-time records in terms of higher production, EBITDA and Net Profits for the first half of 2021) as well as on the ESG front especially as we have recently signed a Memorandum of Understanding between Alba and Sustainable Energy Authority (SEA) to implement various sustainable energy initiatives of common interest – this will consolidate our efforts one step further towards our race towards decarbonisation.”

The Board approved the minutes of the previous meeting as well as reviewed reports of the Executive Committee, Board Audit Committee and the Nomination, Remuneration and Corporate Governance Committee during the Q3 BOD meeting.

The BoD meeting also delivered insights on Alba’s overall performance in terms of productivity amidst high raw materials prices, overall sales with the global logistics’ issue, safety (achieving more than 16.5 million safe working hours to date and more than 99.7% vaccination in our workforce) and plant performance, financial performance-to-date, Al Hassalah programme, and Spent Pot Lining Treatment Plant construction progress.

Furthermore, an update was given on the 5-year strategic initiatives to incorporate a feasibility study on the possibility of Alba power assets’ spin-off. Following a thorough review at the Board meeting, it was decided not to continue this matter given the high risks associated with the divestment of the Company’s power assets. 

The Alba Board of Directors comprises six directors including the Chairman of the Board, Shaikh Daij Bin Salman Bin Daij Al Khalifa appointed by Bahrain Mumtalakat Holding Company B.S.C. are Mr Yousif Abdulla 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 Al Duriaan, Mr Iyad Al Garawi and Mr Omar Al Amoudi and one elected director, Mr Mutlaq Al-Morished.

source https://www.alcircle.com/news/gulfs-earliest-aluminium-producer-alba-held-its-q3-bod-meeting-in-person-for-the-first-time-since-covid-19-70496