Bahrain: Alba saves $2 per MT on Project Titan
CEO Tim Murray said the aluminium firm is set to commence on Phase 2 of Project Titan, having completed Phase 1 at a cost of $148 per metric tonne (MT) instead of $150
Aluminium Bahrain (Alba) announced it has achieved significant savings upon completion of its Project Titan's' first phase.
Phase 1 of the project was completed at a cost of $148 per metric tonne (MT), as against Alba's predicted $150 per MT.
These results were compared with a baseline of Alba's 2013 actual costs as well.
Remarking on the development, Tim Murray, CEO of Alba, said: "Given the current market pressures and rising gas price over the coming years, it is critical that Alba continues to adopt measures to improve its efficiency.
"In line with this objective, Alba will soon embark on Phase 2 of Project Titan, which will be crucial to maintaining our position as one of the leading, low cost producers in the aluminium industry."
Project Titan is a two-year efficiency programme which commenced in February 2014, and is aimed at driving revenue growth and boosting profitability.