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Minaean signs Memorandum of Understanding with Shakun Advertising For Construction of Bus Queue Shelters in Jaipur, India
Minaean signs Memorandum of Understanding with Shakun Advertising For Construction of Bus Queue ...
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[{"type":"text","content":"\nMinaean signs Memorandum of Understanding with Shakun Advertising \nFor Construction of Bus Queue Shelters in Jaipur, India\n\n\n Dec. 1, 2009 (Filing Services Canada) -- Minaean International Corp.  (MIB - TSX Venture, NJA - FWB, NJA - BSE), a Canadian-based developer of alternative building technologies using light-gauge steel, is pleased to announce that its wholly owned subsidiary, Minaean Habitat India Pvt. Ltd. (\"MHI\"), has signed an Memorandum of Understanding  with Shakun Advertising Private Limited (\"Shakun\"), a leader in the Out of Home media business in the state of Rajasthan, to pursue the construction of Bus Queue Shelters (\"BQS\"), in the city of Jaipur, India. The MOU is a strategic move to potentially design, build and deliver approximately 500 BQS in various spots around the city. The Jaipur City Transport Services Limited Company, which handles all public transport services within the city, has invited global bids for the construction, operation, maintenance and transfer of such BQS on a build-operate-transfer basis. Minaean has quickly moved to enter into the agreement with Shakun and submitted a joint bid to Jaipur City Transport Services Limited Company.This BQS opportunity for Minaean is only a preliminary step towards tapping into a CAD$ 900 million business opportunity under the Jawaharlal Nehru National Urban Renewal Mission scheme (JNNURM) where city and state municipalities are being offered implementation of modern bus systems as incentives, in particular the Bus Rapid Transit (\"BRT\") system. BRT is characterized by dedicated road lanes being used for public transport in modern buses to reduce the traffic congestion within the biggest metropolitans in India. Cities like Ahmedabad, New Delhi, Pune, Indore, Bhopal, Jaipur & Rajkot are amongst the forerunners to implement such systems with over 850 km of road length to be covered and other cities are actively considering the system. Minaean is positioned to optimally capitalize on this business opportunity having built a core competence in BQS and Kiosks over the years. Moreover, the Company's recent strategic diversification into the Infrastructure Development industry will also position it as a prospective road management company to provide a total turnkey solution.Over the past two years, Minaean has been able to build a s...