"Following formal approval from the board of directors and the Cabinet, the company had applied for the listing procedure with the Ministry of Industry and Commerce, which usually takes about 60 days to complete," Alba Chairman Mahmood Hashim Al-Kooheji told journalists during an annual Ghabgha meeting at the Alba Club.

"We welcome the increased levels of transparency and good corporate governance that will flow from being a Public Joint Stock Company and that such practices are already followed by the company," he added.

Al-Kooheji said Alba would retain its position as the world's top smelter by doubling its existing annual production capacity to 1.71 million metric tons under the 10-year business plan.

Referring to the half-yearly performance, he said the company had achieved growth targets and would expect a $200 million profit by year-end, despite soft marketing conditions.

During a half-yearly meeting, the Alba board discussed strategic options for the company that would allow it to pursue future success and achieve greater transparency.

He said the board would remain committed to operational efficiency and enhancing the company's global competitiveness.

He said that Alba, which had achieved 88 percent Bahrainization, would remain committed to investing in human resources development in the years to come.

Alba is the second-largest and one of the lowest cost, single location aluminum smelters in the world and is known for its technological strength, global competitiveness and innovative policies. Alba produces more than 850,000 metric tons per annum of the highest-grade aluminum, with products including standard and T-ingots, extrusion billets, rolling slab, propertzi ingots, and molten aluminum