Aluminium Bahrain (Alba) reported substantially lower net profit for 2015 driven primarily by lower LME prices and a one-time charge related to an early retirement scheme (ERS). Net income was BD59.9 million ($159.5 million), down 38 per cent compared with 2014 while the company reported a net loss of BD15.
Alba has upgraded the technology for its Line 6 Expansion Project from EGA DX+ to EGA DX+ Ultra. The upgrade to the EGA DX+ Ultra Technology will boost Alba’s production to 540,000 tonnes per year, an increase of 26,000 mtpa versus prior projections. This will bring Alba’s total production capacity to approximately 1.
The Arabian Shipbuilding and Repair Yard (Asry) recently launched a new department dedicated to military projects, as it seeks to capture approximately 60 per cent of the regional naval market. The new Navy Defence and Industrial Projects (NDIP) department is headed by Anthony Haile, formerly of the UK Royal Navy.
Almajdouie Logistics has added one more laurel to its many accolades in recent years. The latest honour comes from Frost & Sullivan, which named the Dammam-based firm as the 2016 Logistics Provider of the Year, Saudi Arabia.
Finland-based Outokumpu Long Products has won a contract to provide 350 tonnes of smooth round stainless steel dowel bar for Qatar’s Mega Reservoirs PRPS-3 at Rawdat Rashed.
Work on a plant to make solar panels will begin within months in Bahrain with commercial operations set to commence in September, the company launching the project says.
The Emirates Nuclear Energy Corporation (Enec) has signed an agreement that paves the way for transmission of power generated from nuclear plants to the national grid.
Oman Air, the sultanate’s national carrier, has chosen Air France Industries KLM Engineering and Maintenance (AFI KLM E&M) to provide flight hour support for the CFM56-7 power plants that equip the airline’s Boeing 737NG aircraft.
Adeptio, Americana ink deal KUWAIT Food Company (Americana) said last month its board had agreed to give investment firm Adeptio 60 days to carry out due diligence for acquiring a controlling stake in the company.
Nakilat -Keppel Offshore & Marine (N-KOM) has delivered its first liftboat to Qatari rig operator Gulf Drilling International (GDI).
Food and beverage giant Mondelez recently commenced construction of its new $90-million biscuit plant at the Bahrain International Investment Park.
Petrochemical , metals and fertiliser producer Industries Qatar (IQ) blamed lower product prices for an extended earnings slump, reports Reuters.
Indian multinational Electrosteel Castings has opened its $6.6 million warehouse in Bahrain. It will serve as a one-stop solution for water projects for regional markets.