Mazad Announces Strategic Partnership with ASRY
Manama, Bahrain – 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 & 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 between 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 appropriate manner. Streamlining 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 & 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.
“We are to proud 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 within the economy.” said Talal AlAraifi, CEO of Mazad.
“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,”- H.E. Shaikh Mohammed Bin Rashed Bin Abdulrahman Alkhalifa, Acting Chief Executive Officer at Asry.
About Mazad:
Mazad W.L.L, known as “Mazad”, was founded in April 2017 to organize and supervise auctions in the Kingdom of Bahrain. Tasked with managing auctions for a variety of assets, Mazad collaborates with internationally renowned auction houses to ensure high standards. With an unwavering commitment to transparency, fairness, competitiveness, and sustainability, Mazad aims to introduce innovative asset sale and auction mechanisms to support market growth and optimize revenue in the Kingdom. Since its inception, Mazad has successfully launched public auctions for special vehicle license plate numbers, a first in Bahrain. Building on this success, Mazad has expanded its auction portfolio to include a diverse range of assets, from vehicles to real estate projects.
About ASRY:
ASRY is the Arabian Gulf’s most experienced maritime repair and fabrication facility. Founded in 1977 in Bahrain, ASRY has over 45 years of experience in marine asset optimisation. Its leading range of facilities includes a 500 K dwt dry-dock, two floating docks of 252m and 227m in length, 15 repair berths with a total length of approximately 5,000m, twin 255m slipways, as well as a 250,000+sqm fabrication area, and a full range of workshops and service centres. ASRY’s operates in four sectors – Ship Repair & Conversion, Rig Repair & Conversion, Naval Repair & Conversion, and Fabrication & Engineering– which combined cover all types of vessel repair including jack-up rigs and other offshore assets, as well as fabrication of onshore and offshore industrial components.