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February 24, 2005
Minaean (TSXV: MIB) Announces Further Project in Northern India
Minaean International Corp. (TSX VE: MIB), the Canadian-based developer of alternative building technologies using light-gauge steel, and its wholly-owned subsidiary, Minaean Building Solutions Inc., are pleased to announce that they have been awarded through their joint venture subsidiary in New Delhi, India, the contract for the construction of a 30,055 square foot building for the Baba Ghulam Shah Badshah University at Rajouri, in the north Indian State of Jammu.
Vancouver, BC, Canada (PRWEB) February 24, 2005 -- Minaean International Corp. (TSX VE: MIB), the Canadian-based developer of alternative building technologies using light-gauge steel, and its wholly-owned subsidiary, Minaean Building Solutions Inc., are pleased to announce that they have been awarded through their joint venture subsidiary in New Delhi, India, the contract for the construction of a 30,055 square foot building for the Baba Ghulam Shah Badshah University at Rajouri, in the north Indian State of Jammu.
The construction of this project will be carried out in three phases over a period of six months. The total value of the project is approximately $475,000. It is anticipated that the satisfactory completion of this project will lead to a further order for an additional university complex to be attached to the present one. The value of this further contract would be approximately $1,000,000
“The selection of Minaean by this prestigious client is a significant addition to Minaean’s portfolio of projects in India”, says Minaean Chairman, Mr. Hari Varshney. “It is an important step in the Company’s expansion into northern India.” The award of this contract comes a month after Minaean was awarded the contract for the construction of dormitories for the highly regarded “Sri Matha Vaishno Devi” temple project in Kashmir. With Minaean’s light gauge steel panel and framing system being highly adaptable to the hilly regions due to its versatility and light weight, it is seen as a revolutionary type of construction system compared to the conventional brick and mortar system which cannot be easily used in the mountainous areas of India.
About Minaean
Minaean manufactures rapid, efficient building systems using light-gauge steel. Minaean's Vesta Quik-BuildTM and Artisan Quik- BuildTM construction kits are available for houses and buildings of up to four stories. 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. The shares of Minaean International Corporation (parent company) are publicly traded on the TSX Venture Exchange under the symbol "MIB" and the Berlin and Frankfurt Stock Exchanges under the symbol "NJA".
For more information, please visit www.minaean.com
Contact Information:
Peeyush Varshney, Director
Minaean International Corp.
Tel: 604.684-2181
(No.05-02-04)
Contact:
Investor Relations
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.
Posted by Industrial at February 24, 2005 01:03 AM