Minaean (TSXV: MIB) Announces Extension of Project in Northern IndiaJuly 13, 2005 -- Minaean International Corp. (TSX VE: MIB) is pleased to announce that it has been awarded, through its joint venture subsidiary, Minaean Vanitech Engineers Inc., in New Delhi, India, additional follow-on contracts for the third phase of construction for Baba Ghulam Shah Badshah University at Rajouri, in the Northern Indian State of Jammu and Kashmir.
The project consists of three phases, with the first phase nearing completion, and has now been extended with four more buildings added to the third phase. The total contract is now for 51,581 sq. feet with a contract value of CDN $850,000. At the time of the previous news release on April 10, 2005, Minaean had announced a total area of 39,899 sq. feet with an approximate contract value of CDN $640,000.
The execution of this contract is being studied closely by many other government institutions and developers and is anticipated to pave the way for several more such contracts in the region. Minaean is also negotiating on large slum rehabilitation projects in Mumbai city. The Company is gearing up to meet the execution needs of large contracts, presently under negotiation by training additional work force. It is anticipated that Minaean’s personnel shall grow from 150 to 300 by the end of the year.
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. 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
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The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this release.
(No. 2005-07-12)
Contact:
Investor Relations
Phone (604) 684-2181
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