Bahrain-based auction platform, Mazad, on Tuesday, announced a strategic partnership with the Arab Shipbuilding and Repair Yard Company (ASRY) to bolster the maritime industry through innovative auctioning solutions and enhanced operational efficiencies.
This partnership aims to streamline ASRY’s procurement process by using Mazad’s platform to repurpose and utilise materials efficiently, providing a trusted and transparent marketplace for buyers to acquire essential maritime equipment swiftly and economically.
Mazad, a portfolio company of Bahrain Mumtalakat Holding Company, and ASRY, a leading maritime repair facility in the Arabian Gulf, share a commitment to environmental sustainability and Bahrain’s Economic Vision 2030. The collaboration will transform maritime asset management, bringing greater transparency, efficiency, and feasibility to the industry.
“This collaboration will not only enhance the efficiency of maritime asset management but also support the growth and sustainability of the industry in the Kingdom of Bahrain,” said Talal Al Araifi, CEO of Mazad.
“ASRY is committed to embracing innovative solutions that drive operational excellence,” said H.E. Shaikh Mohammed Bin Rashed Bin Abdulrahman Alkhalifa, Acting CEO of ASRY. “Our partnership with Mazad will optimise our asset management processes, ensuring continued utility and greater value for our clients and stakeholders,” he added.
Mazad continues to expand its influence across various industries, aiming to provide ample assets for its global users, contributing significantly to the economy’s growth.
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