MANAMA, Bahrain, Nov. 4, 2024 /PRNewswire/ -- At Gateway Gulf 2024, an investment forum hosted by the Bahrain Economic Development Board (Bahrain EDB), Aluminium Bahrain B.S.C. (Alba) and Daiki Aluminium Industry Company Ltd. reaffirmed their strategic partnership by announcing their intention to form a joint venture 'Alba-Daiki Sustainable Solutions (ADSS)' which will establish a cutting-edge, sustainable aluminium dross processing facility in the Kingdom of Bahrain.
This announcement, made during the forum, underscores Bahrain's commitment to economic diversification and environmental sustainability. Alba will hold a 70% stake in the (JV) and Daiki will have 30%. Both partners are targeting to commence operations by September 2026, marking a significant milestone to environmental stewardship and technological advancement in the region.
The Forum was attended by Alba's Chairman of the Board, HE Khalid Al Rumaihi, Alba's CEO Ali Al Baqali, and Daiki Aluminium Industry Company Ltd.'s Chairman and Representative Director, Yamamoto Takaaki.
HE Noor bint Ali Alkhulaif, Minister of Sustainable Development, Chief Executive of Bahrain EDB, commented on the partnership: "The strategic alliance between Alba and Daiki Aluminium underscores Bahrain's growing appeal as a global investment hub. This collaboration showcases how our Kingdom's advanced infrastructure, innovation-friendly policies, and talented workforce are attracting transformative projects. It's a clear demonstration of our commitment to sustainable economic diversification and our ability to foster international partnerships that drive long-term prosperity in the Kingdom.''
HE Khalid Al Rumaihi stated: "This partnership with Daiki Aluminium marks a pivotal moment in Alba's history and Bahrain's industrial landscape. By combining our strengths, we're not just enhancing our operational efficiency, but also setting new standards for sustainable aluminium production in the Gulf. This venture aligns perfectly with our commitment to innovation and environmental stewardship, while reinforcing Bahrain's position as a leader in economic diversification. We're confident that this collaboration will create significant value for our stakeholders and contribute substantially to the Kingdom's sustainable development goals."
Yamamoto Takaaki stated: "Our collaboration with Alba represents a significant milestone in sustainable industrial development, aligned with the vision showcased at Gateway Gulf 2024. As the GCC region aims to reach a GDP of USD3 trillion by 2030, this partnership demonstrates how targeted investments drive both economic growth and environmental progress. By leveraging our century-long expertise in aluminium recycling alongside Alba's world-class operations, we're not just creating a more efficient production process – we're contributing to Bahrain's impressive 84% non-oil GDP."
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