Apr. 27, 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 Letter of Intent from Bharat Petroleum Corporate Limited (BPCL) for the supply and installation of 2 modular gas-station retail buildings.
This order is a first of its kind for MHI in that it involves construction of a two story retail outlet - making it another landmark in the Company's suite of products. Minaean has been supplying prefabricated modular retail outlets to oil and gas companies throughout India since 2006. Much of the country is still under-developed and the number of gas stations needed to be built is on a steady rise. Providing companies with the option of a two storey retail outlet is anticipated to even further generate demand for the product.
BPCL is a new client of the Company. It currently has 8,402 gas stations, a majority of which are in Northern India, and it intends to further its growth strategy by expanding into the South. This order is 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 more and more adopting innovative technologies like Minaean's in search for a rapid yet cost-effective construction system.
The modular retail outlets are being manufactured and prefabricated in MHI's Mumbai facility, after which they will be transported and installed at sites within the Indian metropolitan of Bangalore.
Mr. Hari Varshney, the Chairman of Minaean, commented "Such modular retail outlets for gas stations and other utilities have become a core competency of Minaean. We have a cutting edge construction system which we are able to deliver on time. Existing and potential clients are taking note of this high quality, sustainable and quick-build construction."
About Minaean
Minaean Habitat (India) Pvt. Ltd., a wholly owned subsidiary of Minaean, is a company well known for its pioneering efforts in the manufacture of light gauge steel components for the construction industry and modular metal buildings in India. 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. It offers a wide range of applications and has a manufacturing facility in Mumbai with a full fledged design and engineering team comprising 85 employees.
The application of the modular building concept has been expanded to include the manufacture and installation of Bus Queue Shelters, ATM Modular Buildings, Modular Toilets and Public Washrooms, office blocks and bunkhouses for campsites. Moreover, the company 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
(No. 2010-04-10)
Source: Minaean International Corp. (MIB - TSX-V)
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