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Alba to complete ECA financing for Line 6 project in Q1-17

Alba to complete ECA financing for Line 6 project in Q1-17
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Alba
ALBH
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Mubasher: Aluminum Bahrain (Alba) officially announced in the third quarter’s financial results its aim to complete the Export Credit Agency (ECA) financing for Line 6 expansion project.

The company noted that it is planning to finalise Line 6 ECA financing in the first quarter of 2017, commenting on what was published in Al Wasat newspaper, according to a bourse filing.

“Alba is in touch with many ECAs around the globe depending on where the company is sourcing its equipment. On this time, more information will be shared in due time once the ECA Financing is secured,” the statement said.

Earlier, Alba announced the successful closing of $1.5 billion syndicated loan on 16 October.

Moreover, the company appointed Bechtel as the engineering, procurement and construction management (EPCM) contractor for its Line 6 Expansion project on 17 April.