Mar. 17, 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 been awarded a purchase order for the construction and installation of 13 units of its steel Bus Queue Shelters (BQS) and 112 units of modularly constructed Litter Bins in the new and modern city of Lavasa, near Mumbai, in India. This order adds to MHI's growing clientele and will generate revenue of approximately CAD$210,000.
MHI has now produced and installed over 500 Bus Queue Shelters in a number of metropolitans throughout India. This purchase order is the second the Company has received within the current quarter as a growing number of companies are turning to Minaean's modular solutions. With stainless steel being adverse to corrosion, the quality and life of the structures are sustainable in the long-term. MHI has capitalized on its core competence in Street Furniture to extend its build capability to Litter Bins which will also be prefabricated in-house and then installed on-site. The order is anticipated to be delivered to the client by May 5, 2010.
Lavasa is being constructed as India's first "hill city" since its Independence and will span an area of approximately 100 km2. It is located about 3 hours away from Mumbai and about an hour away from Pune, both towns being established business centers within the country. The city is to be built in four phases, the first of which, a town called Dasve, will be fully operational by year-end. It has already sold 1,400 residences, is equipped with 1,000 hotel rooms, and has a capacity for 10,000 students. While the Town Centre is already functional, all structures in education, hospitality and leisure are fast-nearing completion. The second phase is planned to be constructed by 2014 and the other two, by 2022. Lavasa has received recognition from the Congress for the New Urbanism for its Master Plans and an excellence award from the American Society of Landscape Architects.
Mr. Mervyn Pinto, the President & CEO of Minaean, said, "We are seeing a steady resumption of business activity in this vertical. Minaean's building solutions are becoming ever more popular in the Indian market and it is pleasing that our value proposition is being recognized."
About Minaean
Minaean International Corporation (MIC) is a Canadian Company focused on the development and promotion of innovative quick-build light-gauge-steel (LGS) technologies for the construction of cost-effective and environmentally friendly structures.
Minaean Power Structures Inc. is the U.S. subsidiary of MIC. The Company uses its trademarked 'Artisan Quik-Build' system primarily to construct residential and commercial condominiums within the American market.
MIC's Asian subsidiary, Minaean Habitat (India) Pvt. Ltd. (MHI), is well known for its pioneering efforts in the manufacture of LGS components for the construction industry and modular metal buildings in India. Manufacturing operations in Mumbai comprise 85 employees. MHI's growing list of applications for the modular building concept include the manufacture and installation of Bus Queue Shelters, ATM Modular Buildings, Modular Toilets and Public Washrooms, Litter Bins and office blocks and bunkhouses for construction campsites. The strong, affordable, ecologically sustainable structures present a promising solution to the mass housing shortages in developing countries and disaster-stricken areas, in addition to a range of conventional applications. Moreover, MHI now sees itself as the leading manufacturer of such modular units within the Indian market.
The shares of Minaean International Corporation (parent company) are publicly traded on the TSX Venture Exchange under the symbol "MIB" and on the Berlin and Frankfurt Stock Exchanges under the symbol "NJA". For more information, please visit www.minaean.com.
On behalf of the Board of Directors
MINAEAN INTERNATIONAL CORP.
"Mervyn Pinto"
Mervyn Pinto, President & Director
Contact:
Investor Relations
Phone (604) 684-2181
investors@minaean.com
Source: Minaean International Corp. (MIB - TSX-V)
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