The European metal producer, Aleastur has instituted the Gulf region’s first facility for aluminium grain refiners and master alloys production at its new Middle-East based in Bahrain.
Aleastur selects Bahrain to set up first aluminium grain refiners
The brand new $15 million facility at the hub of the Gulf region will deliver speciality alloys to global markets, comprising Asia, North America and the GCC.
The international leading manufacturer of Grain Refiners, Aleastur's new hub is part of an extensive plan, in partnership with the kingdom's sovereign wealth fund Bahrain Mumtalakat Holding Company - which acquired a substantial stake in the company in 2016 towards the development of the kingdom’s downstream aluminium sector and strengthens coordination between local manufacturers and vital international players.
Mumtalakat Holding Company stated: “The Bahrain facility will be exporting approximately 85% of its annual production to regional players in the industry, including main aluminium smelters and cast-houses.”
“The launch of this facility is a great example of Bahrain’s recently announced economic recovery plan in action. This supports the mandate to continue attracting investment to the kingdom, ultimately creating jobs for Bahrainis.”
Aleastur is one of the top-rated aluminium grain refiner players in the world, headquartered in Asturias, a region of northwest Spain and is anticipated to hit revenues in the new facility of nearly $53 million by 2025 as it ramps up foreign exports.
This Bahrain hub will be Aleastur’s first overseas facility and will produce high-quality aluminium alloys to be used for different purposes across multiple industries.
The establishment of the new plant is a part of its expansion strategy that is designed to be an exemplary aluminium downstream hub, reducing lead times and strengthening supply chains for the aluminium industry in the region and neighbouring markets as global economies begin to rebound and construction projects restarts.
Sergio Martinez, CEO, of Aleastur said: "We hope to establish a solid regional base and establish an access point from Spain not only to cater for the GCC but other several regions. The geographical location of Bahrain and easy access to some of the fastest-growing markets here will provide the platform we need to achieve our international growth ambitions.”
"We’re thrilled to be joining our industry peers in Bahrain and we look forward to tapping into a growing aluminium hub right next door to Alba. In combination with our Spanish facilities, the new site will be particularly well-positioned to export to the South East Asian and Indian markets," he added.
"In addition to Bahrain’s well-placed geographical location, we will benefit from the highly skilled local workforce, strong logistics infrastructure and best-value operating costs.”
Khalid Al Rumaihi, CEO of Mumtalakat, said: "As one of our key investments, Aleastur’s presence in Bahrain will add significant value to the growing downstream aluminium cluster which will enable them to cater to the growing demand in the region and beyond. We look forward to seeing their operations expand and are excited by the prospects this next phase for Aleastur brings."
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Khalid Humaidan, CEO of Bahrain’s Economic Development Board said: "The decision by Aleastur to build its first international base in Bahrain is a prime example of the kingdom’s attractiveness in the manufacturing and logistics sectors which we believe can be summarized by three main attributes."
"Firstly, our competitive operating costs are likely to be more profitable; secondly, our free trade agreements support businesses. Last but not least, a key decisive element is a highly-skilled workforce we have to man those businesses and keep them successful," he added.
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