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March 31, 2005
Minaean Signs MOU for Construction in Sri Lanka
Vancouver, BC (PRWEB) March 31, 2005 -- Minaean International Corp. (TSX VE: MIB; Berlin and Frankfurt Stock Exchanges: NJA) is pleased to announce that its wholly-owned subsidiary, Minaean Building Solutions Inc. (“MBS”), located in Surrey, BC, has signed a Memorandum of Understanding (“MOU”) with Christhomas Management International Ltd. (“CMIL”) of Whetstone, London, England.
The MOU creates a commitment and joint interest of both parties to promote the use of innovative and eco-friendly light-gauge steel building systems for quick-build and disaster relief housing projects in Sri Lanka. MBS and CMIL also share a mutual interest in the manufacture and production of cost-effective construction materials and systems, particularly as they relate to housing developments in Sri Lanka. Senior management of MBS recently made a business visit to Sri Lanka where they met with senior Ministers and government officials, as well as other construction industry representatives to assess the demand and potential for their innovative construction systems.
Under the agreement, MBS will produce and supply state-of-the-art construction technologies and systems which will be marketed and constructed locally by CMIL. As a first step towards potentially securing large orders in excess of 2,000 housing units within 12 months, CMIL and MBS have jointly decided to construct four demonstration houses in key locations to be built at selected sites to showcase the benefits and advantages of MBS’s building technology. Upon completion of the demonstration houses, CMIL has agreed to place an order for an apartment building of 35 units to be constructed for the Chief Minister and the Provincial Council members of UVA Province in Sri Lanka. Negotiations are currently underway with CMIL for a further order of 2,000 units for educators and teachers in UVA Province, as well as for the extensive marketing of the technology in other spheres of the construction industry in Sri Lanka.
“Our agreement with CMIL has the potential to propel Minaean’s light gauge steel building technology to the forefront of the residential and commercial construction sectors throughout Sri Lanka and Southeast Asia,” says Mr. Hari Varshney, Chairman of Minaean.
About Minaean
Minaean Building Solutions Inc. of Vancouver, British Columbia, 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 on the Berlin and Frankfurt Stock Exchanges under the symbol "NJA". For more information, please visit www.minaean.com.
Minaean International Corp.
“Peeyush Varshney”
Peeyush Varshney
Director
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Minaean International Corp.
Tel: (604) 684-2181
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Posted by Industrial-Manufacturing at March 31, 2005 02:32 AM