Aluminium Bahrain (Alba) announced on Sunday the launch of Phase II of its company-wide, cost reduction programme Project Titan, according to a bourse filing.

The project aims at reducing cash cost by $100 per metric tonne of aluminium and step-up its production capacity to 1 million metric tonnes per year by end of 2017, the company said in a statement to the Bahrain Bourse.

“Project Titan Phase II, focused on optimizing operational costs and boosting the Company’s production, is an integral part of Alba’s strategy for value creation and reflects the current and expected market conditions in the aluminium industry,” the statement explained.

In February 2014, Alba launched Project Titan as a two-year efficiency programme to drive revenue growth and boost profitability, the statement added, noting that Alba recently announced the completion of Project Titan Phase I with achieved savings of $148 per metric tonne against the set target of $150 per metric tonne.