Alba achieves $102 million savings

Manama, Jan. 23 (BNA): Aluminium Bahrain B.S.C. (Alba), now amongst the 1 Million-Club metric tonnes smelters in the world, launched Phase IV of Project Titan with the objective to reduce cash-cost of $100 million by the end of 2020 and announced that it has achieved $102 million savings in Phase III of Project Titan. Alba’s Project Titan - Phase IV is a 24-month Program and aims to achieve $40 million in 2019 and $60 million in 2020. Commenting on the launch of Project Titan - Phase IV, Alba’s Chief Executive Officer Tim Murray said: "As Alba is progressing to be transformed to become the world’s largest aluminium smelter with a production of 1.5 million metric tonnes, we must challenge ourselves in every aspect to stay competitive and ahead of the curve especially amidst the weak sentiment hovering around LME price." Through Project Titan, Alba achieved benefits of $143 million in Phase I (2-year Programme), $36 million in Phase II (2-year Programme), $102 million in Phase III (1-year Programme). Alba Operational Excellence team will conduct awareness sessions for Alba employees over the course of 1 week to highlight the key elements behind Phase IV of Project Titan.