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Minaean Receives Purchase Order for Construction of Retail Outlets at Gas Stations in Karnataka, India
Minaean Receives Purchase Order for Construction of Retail Outlets at Gas Stations in Karnataka, ...
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[{"type":"text","content":"\nMinaean Receives Purchase Order for Construction of Retail Outlets at Gas Stations in Karnataka, India\n\n\n Mar. 10, 2010 (Filing Services Canada) -- Minaean International Corp.  (MIB - TSX Venture, NJA - FWB, NJA - BSE), is pleased to announce that its wholly owned subsidiary, Minaean Habitat (India) Pvt. Ltd. (MHI), has received a purchase order from Indian Oil Corporation Ltd. (IOCL) for the supply and installation of 12 modular gas station retail buildings.  MHI will generate approximately $200,000 in revenue from this order which is significant as IOCL is a new client.  Minaean has been supplying such prefabricated modular retail outlets to oil and gas companies since 2006. The initial significant order received by Minaean for the production and installation of modular retail buildings was through a contract for the supply of 50 such units for Shell Petroleum in India in early 2007.  This will be the first instance where IOCL's gas stations will be constructed in modular form - further evidence of the steady proliferation of modular construction technology within the Indian market. Where in the past decade modular construction was more a concept, India is slowly adopting innovative technologies like Minaean's in search for a rapid yet cost effective construction system.Business in India is showing a remarkably speedy recovery.  This has also extended to oil and gas companies who are now aggressively expanding their reach within the market. Currently, the largest market reach is enjoyed by IOCL which has close to 17,000 gas stations throughout the country. These oil and gas giants have keenly followed MHI's success in its supply to Shell Petroleum and are now adopting Minaean's innovative modular solutions for sustainable and quick build construction.The modular retail outlets will be manufactured and prefabricated in MHI's Mumbai facility, after which they will be transported and installed at sites within the Indian state of Karnataka. The first prototype was delivered, inspected and approved by IOCL during the last week of February. Such orders are delivered by Minaean within 30 days of order receipt. Mr. Hari Varshney, Chairman of Minaean said, \"Over the last quarter we have received a number of enquiries relating to modular retail outlets which are now materializing i...