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MINAEAN INTERNATIONAL CORP
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Phone: (604) 684-2181
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Minaean Secures Contract with Reliance Power to Construct Field Hostel in Chitrangi, Madhya Pradesh for Reliance Power, India
Vancouver, BC, Canada - July 6, 2011 - Minaean International Corp. (TSX Venture Exchange: MIB; Berlin and Frankfurt Stock Exchanges: NJA), 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 successfully secured a contract valued at CAD$1.72 million for the turnkey design and construction of a new Field Hostel complex in Chitrangi, Madhya Pradesh, India.
The Field Hostel complex is being contracted by Reliance Power Corp. for its Chitrangi power project and will be constructed by Minaean using its "Artisan Quik-Build" light gauge steel construction system. The 52,000 sq feet complex will consist of 120 hostel rooms, 24 studio apartments and a central dining facility. MHI has been allocated a time line of 180 days to complete the construction of this building upon completion of engineering and approval of the drawings by Reliance.
This contract is a major milestone for MHI since it gives the company an opportunity to successfully showcase its "Artisan Quik Build" light gauge steel construction system in the Madhya Pradesh region - one of India's heavily populated states which is gearing up for massive industrial expansion. The Company had initially introduced the Artisan Quick Build system to India during 2001 in the wake of the Gujarat earthquake to fulfill the need for a cost efficient and quick construction system. Over time, and with the popularity of MHI's light gauge steel solutions in the commercial sector such as Gas Retail Outlets and ATM Kiosks, institutions have begun to take notice of the significant advantages provided by Minaean's construction system. It can be deployed to meet any design requirements to construct super-structures of buildings rapidly, cost effectively and in an environmentally sustainable manner.
The award of this contract is further indication of the country accepting Minaean's innovative quick build construction solutions.
Hari Varshney, Chairman of Minaean, commented, "This is a great opportunity for MHI to showcase to the power sector in Madhya Pradesh the huge benefits of using Artisan Quik-Build as construction system."
About Reliance
Reliance Power Limited is a part of the Reliance Anil Dhirubhai Ambani group, one of India's largest business houses. The group comprises companies in the telecommunications, financial services, media and entertainment, infrastructure and energy sectors. The energy sector companies include Reliance Infrastructure Ltd and Reliance Power Limited.
Reliance Power has been established to develop, construct and operate power projects domestically and internationally. The Company on its own and through subsidiaries has a portfolio of over 35,000 MW of power generation capacity, both operational as well as under development.
About Minaean
Minaean Habitat (India) Pvt. Ltd., a wholly owned subsidiary of MIC, is a company well known for its pioneering efforts in the manufacture of the 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