Staff Housing Project for Security Personnel, Ministry of Housing, Ghana – Minaean Signs a Memorandum of Understanding with Nanjing Construction Group, China
Vancouver, BC, Canada – May 6th, 2013 – Minaean International Corp. (TSX-V: MIB; Berlin and Frankfurt Stock Exchanges: NJA) (“Minaean” or the “Company”), a Canadian-based developer of alternative building technologies, using light-gauge steel, is pleased to announce that it has, based on the request from Ministry of Housing, Ghana for submission of proposals and offers for construction of staff housing for Security Personnel, signed a Memorandum of Understanding (MOU) with “NANJING CONSTRUCTION GROUP Inc (NCG) of China. This MOU has been finalized and signed upon having received from Ministry of Housing, Ghana the approval of NCG as contractors and Minaean as NCG’s sub-contractors / contract managers.
Based on the confirmation from the Ministry for allocation of 150 acres of land for construction of up to 5,000 units for Security and Defense staff of Ghana, concept designs have been prepared for submission during the forthcoming visit to Accra, Ghana by the representatives of NCG and Minaean. Minaean will carry out a Detail Project Study (“DPR”) and assist NCG in conducting the cost analysis of the entire project during the visit. As per the requirement of Ministry of Housing, the DPR will be done based on the construction of four storey apartment buildings for the staff, single and two storey duplex units to provide a comfortable living environment for the Executives and Management. The MOU with NCG is based on the understanding of Minaean providing the necessary support services on design & engineering and contract execution at cost plus a percentage of the contract value.
About Nanjing Construction Group
Founded in 1980, Nanjing Construction Group has grown to be the fourth largest construction group of Nanjing, China. The company has exceeded $ 1 Billion in revenues during the last financial year and is involved in execution of large government as well as private construction contracts. One prestigious contract currently under execution is the construction of Olympic Stadium for the “Youth Asian Games” to be followed by the “Youth Olympics 2014” valued at US$ 850 million. The other award winning contracts executed by NCG have been construction of 220,000 square meters New World Trade Center in Nanjing, 88,900 square meter Nanking Xinua Tower, 22,800 square meter Nanjing Wutai Garden. The company’s expertise in the construction of affordable housing projects can be noted from its successful execution of contracts named as “Projects for People’s Livelihood” Chinjiang New Tiwn, Xishan Garden, Jixiang Village, Luhe New Town and Yuliang exceeding a total floor area of 3 million square meters. NCG is now in the process of concluding a partnership with “Nanchang Engineering Corp.” of Nanchang for execution of the Security Housing contract jointly and in an efficient manner. Nanchang Engineering brings in a wealth of experience of executing affordable housing contracts globally and forms a key part of the equation for efficient execution of contracts in Ghana.
About Minaean
Minaean International Corp. specializes in design, engineering, production and installation of modular and prefabricated buildings using its light gauge steel construction system trade marked “Vesta Quik-BuildTM and Artisan Quik-BuildTM” . The Company operates through its two wholly owned subsidiaries, Minaean Habitat (India) Pvt. Ltd in India and Minaean Ghana Inc. in Ghana, Africa. Through the expansion of its business model, Minaean has entered the African housing market, promoting the business of affordable housing projects in Ghana, Africa .
As pioneers in the Indian market, Minaean’s success in supply of modular buildings, designed, engineered and prefabricated in the factory environment and capable of being assembled and delivered within 7 days, has been an addition to the Company’s innovative construction technologies. The application of the modular building concept has been expanded to produce and install Bus Queue Shelters, ATM Modular Buildings, Modular Toilets and Public Washrooms, office blocks and bunkhouses for campsites. 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.
Through its “Artisan Quik-Build” system, Minaean has conducted engineering and constructed buildings up to 7 stories high in Oregon, USA.
Shares of Minaean International Corporation 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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
