State-owned investment firm Bahrain Mumtalakat Holding Company B.S.C. announced that Gulf Aluminium Rolling Mill Co. B. S. C.’s (GARMCO) US$55 million recycling and cast-house plant is on schedule for completion.
GARMCO, which is a Mumtalakat portfolio company, is constructing the state-of-the-art plant in order to boost its production capacity by 150%, giving it a nameplate capacity of 200 thousand metric tons of aluminium slabs per annum. The plant is part of GARMCO’s three-year plan to reduce production costs.
“We are pleased with the progress of this project which will further develop the Kingdom’s downstream aluminium industry,” opined GARMCO’s chairman Mahmood Alsoufi. “The manufacturing sector accounts for 20% of Bahrain’s GDP and such projects will boost the Kingdom’s exports. The aluminium industry is a key area of focus for Mumtalakat as we manage our portfolio with the objective of enhancing performance and returns of our assets. We aim to leverage our sector expertise and extensive regional and international networks to help GARMCO meet its growth objectives.”
“We see this as a major step forward in the next stage of GARMCO’s development and the progression of the aluminium industry in Bahrain,” said GARMCO’s Acting CEO Mohamed Essa. “It will contribute not only to GARMCO but to the development of recycling programmes in the region. The project is on track and we are looking forward to receiving the first cast in July in order to reach maximum operational capacity by November this year.”
GARMCO was founded in 1981 and is headquartered in Sitra Bahrain. The firm produces cold-rolled aluminium, cold-rolled coils and sheets, aluminium circles, aluminium foils, capacitor foils, low gauge foils, aluminium plates, extrusions, electro-galvanized steel, and stainless steel. The firm operates plants in Danbury, Connecticut; Indianapolis, Indiana; Europe; Manama, Bahrain; Wanchai, Hong Kong S.A.R.; Singapore; Victoria, Australia; Shanghai, People’s Republic of China; Samutprakarn, Thailand; and Seoul, Republic of Korea.