Bahrain's GARMCO awards $47m EPC deal to Fives
The Bahraini aluminium rolling mill will expand its facilities, and when complete, the project will add to GARMCO's production by 120,000 tonnes of aluminium slabs
GARMCO, the Bahrain-based aluminum rolling mill, awarded a contract worth $47m to Fives, an industrial engineering group and supplier of machines, process equipment, and production lines, to build additional facilities for the Bahraini firm.
The re-melt project is an engineering, procurement, and construction (EPC) turn-key project, which will enable GARMCO to develop its metal recycling capability and lower the cost of metal casting.
The project will run for a duration of approximately 21 months, starting September 2015.
The first stage has already commenced and is being managed internally by GARMCO with the support of a local supplier.
Phase one consists of the construction of a scrap storage area and segregation unit.
The project, once complete, will enable GARMCO to produce 120,000 tonnes of aluminium slabs.
HE Mr. Bernard Regnauld-Fabre, Ambassador of France to Bahrain, and Mrs Valerie Montane, the Commercial Counsellor, attended the signing ceremony as the guest of honours.
Ahli United Bank will finance the ceremony.
Mahmood Al Soufi, chairman of GARMCO, said: "We are delighted to launch this important expansion project in collaboration with Fives.
"This facility will have a number of advantages for GARMCO .
"Importantly, it will create 50 new jobs, further bolstering GARMCO 's position as one of the most sizable employers in the Kingdom of Bahrain, and will generate significant cost savings.
"This project, alongside one or two others, forms an integrated part of a three year strategy and will contribute to the profitability and growth of the company regionally and internationally."