Aluminium Bahrain (Alba), which owns the world's fourth-largest aluminium smelter, yesterday said its planned sixth production line could be completed by early 2015.
Feasibility studies are currently underway, with banking feasibility studies seen ready by 2013, chief executive officer Laurent Schmitt said in a conference call.
"First metal would be available in early 2015," Mr Schmitt said.
The line is expected to add 400,000 tonnes annual capacity to Alba's current production of 881,000 tonnes a year, he said.
A one-time social cost of $16 million was incurred during the fourth quarter due to reconciliation packages for employees terminated as a result of the unrest.
"We are offering packages according to the number of years worked so they range from around one to two years of pay," said Tim Murray, the company's chief financial officer.
Mr Murray said it was still unclear whether Bahrain would again significantly raise gas prices it sells to Alba.
The country's state-run energy supplier had raised the prices of gas it sells to Alba starting January 1 by $0.75 per million British thermal units (mmbtu) to $2.25/mmbtu.
The move is expected to increase Alba's costs significantly but still offers the plant cheaper fuel than most of its competitors outside the region.
"We still have no clarity on what it will be," Mr Murray said when asked if he expected prices to further jump within the near future.
The company and local authorities are discussing a long-term contract to secure availability and price of gas beyond 2012.
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