Qamco, which has outlined QR1.1bn capital expenditure for 2023-27, will focus on its strategic plans to strengthen the market position and diversify into newer markets, aiming at enhanced shareholder value.
Qamco's joint venture (Qatar Aluminium or Qatalum) is on track to reduce emissions by certain process optimisation measures, while improving output efficiency.
These were disclosed by the Qamco board in a report submitted before shareholders at the general assembly meeting, which yesterday approved all the items on the agenda.
"Going forward, Qamco’s JV will remain focused on its strategic plans and look forward strengthening its market position and diversifying into newer markets, while relentlessly working towards enhanced shareholder value," its chairman Abdulrahman Ahmad al-Shaibi said.
On the planned capex for 2023-27, the board report said it will continue to focus on the programmes with critical importance to improve asset integrity, operational efficiency, reliability, cost optimisation, capacity de-bottlenecking and HSE (health, safety and environment).
During 2022, Qamco JV accounted for QR229mn (its share) on capex outlays, which included routine operations, such as pot relining and other maintenance pertaining to power plant and anode plant.
The JV continues to reline third generation of pots and replace flue walls to ensure sustainable operations, while minimising the risk for disruption in production.
On the sustainability front, the JV continued its journey to limit its carbon footprints by deploying various strategies and programmes and continue to explore opportunities to enhance energy efficiency and conservation measures.
Qamco's JV has been successful in maintaining one of the lowest carbon footprints (in terms of carbon dioxide per metric tonnes of aluminium) by using natural gas as its source of energy compared to other types of fuel such as coal and oil.
Nevertheless, JV’s carbon footprints are marginally higher than smelters that use renewable energy as hydropower or solar energy.
In this regard, JV is working on developing Greenhouse Gases (GHG) reduction strategy, where work is in progress to set medium to long range targets for GHG reduction.
"The focus of the decarbonisation drive is to meet market expectations for the production of low carbon aluminium and to align with the ‘green’ transition of the international aluminium sector," the report said.
Qamco, which has outlined QR1.1bn capital expenditure for 2023-27, will focus on its strategic plans to strengthen the market position and diversify into newer markets, aiming at enhanced shareholder value