Mazad announces strategic partnership with ASRY

Manama: Bahrain's leading auction platform Mazad, a local portfolio company of Bahrain Mumtalakat Holding Company mandated with overseeing Bahrain's public and online auctions, has announced a strategic partnership with the Arab Shipbuilding and Repair Yard Company (ASRY), a leading maritime repair and fabrication facility in the Arabian Gulf. This partnership aims to bolster the maritime industry through innovative auctioning solutions and enhanced operational efficiencies. The alliance betweeen both companies comes as a sustainable benefit to the maritime industry as a whole, by ensuring that all materials are repurposed and utilized in an appropirate manner. Streamlinging ASRY's procurement process, Mazad serves as a trusted and transparent platform for buyers to aquire essential materials and equipment swiftly and economically. In line with Mazad and ASRY's shared values and core commitments towards environmental sustainability and green projects, the partnership will transform the way maritime assets are managed and traded, bringing greater transparency, efficiency, and feasibility to the industry by following the guiding principles of Bahrain's Economic Vision 2030. Talal AlAraifi, CEO of Mazad, said "We are proud to embark on this strategic partnership with ASRY, a leader in the maritime 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. At Mazad, we aim to collaborate with various industries, offering an ample supply of assets for our global users, thus making a lasting impact on the economy." Shaikh Mohammed bin Rashed bin Abdulrahman Al Khalifa, Acting Chief Executive Officer at Asry, said that ASRY is committed to embracing innovative solutions that drive operational excellence. "Our partnership with Mazad will enable us to optimize our asset management processes, ensuring our assets continue to maintain their utility, whilst offering a greater value to our clients and stakeholders," Shaikh Mohammed added. Source: Bahrain News Agency