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Bahrain’s Alba on track to complete debt financing for smelter expansion -official [Reuters]

Citigroup, Inc. (C) 
Last citigroup, inc. earnings: 4/15 08:00 am Check Earnings Report
US:NYSE Investor Relations: citigroup.com/citi/investor/pres.htm
Company Research Source: Reuters
Bahrain’s Alba on track to complete debt financing for smelter expansion -official | Reuters 2 Min Read MANAMA (Reuters) - Aluminium Bahrain (Alba), owner of one of the world’s largest aluminum smelters, will raise by the end of this year’s first quarter the final debt amount needed to fund its Line 6 expansion project, a company official told Reuters. With Line 6, Alba will become the world’s largest single aluminum smelter complex, increasing production capacity by 540,000 metric tonnes to a total capacity of 1.5 million tonnes per year, the company says. The project involves capital expenditure of around $3 billion. Of this amount, $1.5 billion was funded through a syndicated loan raised in 2016, $400 million was funded internally, and $700 million was borrowed last year through loans guaranteed by export credit agencies. This means there is around $400 million left of financing, also backed by export credit agencies, which will be completed by the end of March, deputy chief execut Show less Read more
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