MINAEAN INTERNATIONAL CORP

 

FOR IMMEDIATE RELEASE

                        

Contact:InvestorRelations                                                                                                                                      

Phone (604) 684-2181

investors@minaean.com

 

MINAEAN COMPLETES EXECUTION OF BUS QUEUE SHELTERS CONTRACT IN MUMBAI, INDIA AHEAD OF SCHEDULE 

 

Vancouver, BC, Canada – Thursday, January 27, 2011 – Minaean International Corp. (TSX V: MIB; Berlin and Frankfurt Stock Exchanges: NJA) is pleased to announce that its Indian subsidiary, Minaean Habitat (India) Pvt. Ltd. (MHI), has completed ahead of schedule the execution of the bus queue shelters contract valued at CDN $1.60 million, awarded by one of India’s largest Out of Home Media companies.  MHI has been commended for achieving of this challenging target.  The contract for the production and installation of 200 bus queue shelters was awarded on August 20^th, 2010 with a time line of 115 days and had to be executed by December 15^th, 2010.  MHI produced and installed 180 units by November 30^th, 2010 with a balance of 20 units produced and stored in a warehouse awaiting site clearance from the client.

 

These bus queue shelters are of an ultra modern stainless steel design duly approved by Mumbai Municipal Corporation and have been fabricated in Minaean’s Mumbai plant.  This efficient execution paves the way for potentially more orders which are currently under negotiation with various media companies.  A number of tenders for the supply and erection of Street Furniture have been announced by Indian municipalities falling under various state governments - with the focus on providing a new look to the cities and townships. Out of Home Media companies will be bidding for these contracts and Minaean in turn will be negotiating with the winner of the bid for the supply and installation of bus queue shelters. 

 

India’s economy has been surging ahead since the recession ended and opportunities for Minaean are gaining momentum. The Company is confident that it will close shortly some of the contracts which are currently being negotiated. 

 

Minaean International Corp.’s Chairman, Mr. Hari Varshney, who was in India recently congratulated the efficient execution of the contract by MHI’s team and expressed his optimism about  the Company’s growth prospects during the present financial year.  “The exposure through MHI’s success in the execution of the Gujarat Health Ministry’s hospital contract followed by this bus que shelter contract has created a number of larger opportunities.  Minaean is poised for a major break through in the Indian market,” said  Mr. Varshney.  

 

 

About Minaean

 

Minaean International Corp., is an innovator of rapid, efficient building systems using cold formed steel technologies.  Currently, Minaean has four systems: the ‘Vesta Quik-Build’ (patent under process), ‘Artisan Quik-Build’, ‘Modular Quik-Build’ and ‘Artisan Composite System’. 

 

Minaean provides an all encompassing in-house design, engineering, prefabrication, supply and installation of modular buildings and light gauge steel load bearing wall panels with flooring systems capable of being assembled, delivered and installed within 7 to 10 days. 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.

 

Shares of Minaean International Corporation (parent company) is 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