DUBAI Dec 30 Aluminium Bahrain, or
Alba, which owns the world's fourth-largest aluminium smelter,
said on Sunday it received two loans from banks to refinance a
$169 million bond maturing in March 2013.
Alba, 69 percent owned by Bahraini sovereign wealth fund
Mumtalakat and 20 percent by the Saudi government, said it
obtained a five-year $85 million loan from Abu Dhabi's First
Gulf Bank, according to a statement on the Bahrain
The company also received a three-year $84 million loan from
a group of banks including Ahli United Bank, National
Bank of Bahrain, Bank of Tokyo-Mitsubishi UFJ Ltd
, Bank of Bahrain and Kuwait and Arab Banking
Alba earlier in December said it had hired Bechtel Canada to
conduct a feasibility study for its proposed $2.5 billion
expansion plan to add a sixth production line.
The new line - which will add 400,000 tonnes annual capacity
to its current production of 881,000 tonnes a year - could be
completed by early 2015.
(Reporting By Mirna Sleiman, Editing by William Maclean)