Arab Finance: Egypt Aluminum Company and Aluminium Bahrain (Alba) signed a memorandum of understanding (MoU) to evaluate the feasibility of building an alumina refinery in Egypt, according to a bourse filing.

The plant will be set up with initial investments valued at $3 billion.

It is worth noting that alumina is the primary raw material for aluminum production.

The deal was one of the eight agreements signed between Egypt and Bahrain on September 3^rd to boost cooperation between the two countries.

In the fiscal year (FY) 2024/2025, the EGX-listed company posted a 9% higher net profit, reaching EGP 10.185 billion, compared to EGP 9.324 billion in the previous FY.

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