Business
Minaean Awarded Contract for Construction of Retail Outlet Building by India's Largest Retail Gas Supplier
Minaean Awarded Contract for Construction of Retail Outlet Building by India's Largest Retail Gas...
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[{"type":"text","content":"Minaean Awarded Contract for Construction of Retail Outlet Building by India's Largest Retail Gas Supplier\n\n\n\nMinaean Awarded Contract for Construction of Retail Outlet Building by India's Largest Retail Gas Supplier\n\nVancouver, British Columbia CANADA, May 27, 2008 /FSC/ - Minaean International Corp. (MIB - TSX Venture, NJA - FWB, NJA - BSE), is pleased to announce that its wholly owned Indian subsidiary, Minaean Habitat (India) Pvt. Ltd. (MHI), has been awarded a contract by Bharat Petroleum Corporation Limited (BPCL) to construct a 452 sq. ft. retail outlet building for their existing gas station site in Bangalore which is currently being remodeled and refurbished. BPCL plans to refurbish some of the major retail outlets in the city and aim to employ Minaean's Light Gauge Steel System for the development of these projects. This is the first commercial order from BPCL after the construction of the prototype in Pune city (off Mumbai) in January, 2008. \n\nBPCL, a Fortune 500 company, is the largest retail gas supplier in India with 8,015 retail outlets all over the country out of which only 200 contain retail facilities. BPCL now plans to refurbish at least half of the remainder, primarily in the city regions, by outfitting them with retail facilities. In addition, BPCL is also planning to open 800 new outlets, in 2008 and 2009. BPCL is strongly focusing on generating revenue from non fuel retail sources, such as fast moving consumer goods products and grocery sales at these outlets. MHI's Quick Build Light Gauge Steel Panelized Wall system is considered to be an ideal solution for BPCL to meet its targets and maintain its top position in the country. MHI is also in negotiations with BPCL's Chennai office for larger orders and is confident of being awarded with the contracts shortly. \n\nAs per the report published in Business Standard on January 3, 2008, the three Indian oil major companies have been tasked to set up 3,000 gas stations in various parts of the country. \"MHI is likely to get a part of this business in the latter half of the year when these oil companies try to meet their targets,\" says Sudhir Garg, Managing Director of Minaean Habitat. \"We need to be prepared to execute with the increased production capacity,\" he said. \n \nAbout Minaean \n\nMin...