Aluminium Bahrain B.S.C. (Alba), the Bahrain-based leading international aluminium smelter, announced the completion of Project Titan – Phase I with a final actual figure of $148 per metric tonne against the set target of $150 per metric tonne.
The results of Project Titan – Phase I was measured against baseline of 2013 actuals and focused mainly on creating a competitive and sustainable cost structure.
Commenting on this milestone, CEO Tim Murray said:
“We are pleased with the overall success of the first Phase of Project Titan, having nearly achieved the set target of $150 per metric tonne. Through this Project, we were able to leverage the use of our operational excellence as well as train and develop the next generation of leaders from within the Company.
Given the current LME 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 II of Project Titan, which will be crucial to maintaining our position as one of the leading, low cost producers in the aluminium industry.”
Directed by Alba’s Chief Executive Officer, Tim Murray, Project Titan was a two-year efficiency programme that commenced in February 2014 with an aim to drive revenue growth and boost profitability. This project looked at ways and means to generate significant amount of savings, majority of which will be invested in projects that will drive future growth in strategic areas of business.