Mazad signs deal to dismantle and sell Alba power stations

TDT | Manama                                                    

The Daily Tribune – www.newsofbahrain.com

Mazad, a local portfolio company of Bahrain Mumtalakat Holding Company mandated with overseeing public and electronic auctions, has signed a cooperation agreement with Aluminium Bahrain (Alba) to launch a project to dismantle and sell two of Alba’s power stations through Mazad’s digital platform.

The agreement stipulates the dismantlement of the power stations, in addition to the removal of structures and equipment, including turbines, generators, spare parts, and other fixtures, in order to auction the items through Mazad’s digital auction platform, enabling clients to purchase assets through a streamlined and transparent process.

“The auction of Alba’s power stations will create a competitive environment for investors, and we strive to reach the highest number of buyers through this sale,” said Talal Al Araifi, Chief Executive Officer of Mazad.

Adding further, Ali Al Baqali, Chief Executive Officer of Alba, commented: "This cooperation also comes as part of our efforts to promote a circular economy in line with our Environmental, Social, and Governance Roadmap as well as contribute to reducing waste through the repurposing of assets.”