Oct. 26, 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 Bharat Petroleum Corporation Limited ("BPCL") for the supply and installation of 45 modular retail shop buildings for gas stations. The order is to be executed as per BPCL's requirements over a period of 12 months.
This order comes after the successful execution of a trial order for four retail outlets in the states of Karnataka and Maharashtra and a two story retail outlet, the first of its kind, making it another milestone in the Company's growth strategy. Minaean has been supplying such prefabricated modular retail outlets to oil and gas companies since 2006. After MHI successfully executed a contract with Shell Petroleum, the Company has been consistently receiving orders from Indian Oil Corp. and BPCL. This is the second largest order MHI has received after it completed execution of a contract for 65 modular retail shop buildings for Shell in 2008.
BPCL is India's 2nd largest retail gas supplier and is a Fortune 500 company (368th), with approx. 10,000 gas stations all over the country. Of these only about 1,500 gas stations are furnished with retail stores. BPCL now plans to refurbish at least half of these gas stations primarily in the city regions. In addition, BPCL has aggressive plans of opening 1,500 new gas stations with retail outlets during the next two years. Minaean Habitat's Quick Build Light Gauge Steel Panelized Wall system is considered to be an ideal solution for BPCL in the regions where immediate retail gas supply facilities have to be provided.
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 metropolitan of Bangalore.
Mr. Hari Varshney, the Chairman of Minaean who recently visited India, said, "Such modular retail outlets for gas stations and other utilities have become a core competency of ours. We have a cutting edge construction system which is able to deliver on time and with high quality."
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. 2010-10-00)
Source: Minaean International Corp. (MIB - TSX-V)
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