Minaean SP Construction Corp. In Discussion with Government of Peru for Construction of a 300 Bed Multi Disciplinary Hospital

Vancouver, BC, Canada – March 22, 2021 – Minaean SP Construction Corp. (TSX Venture Exchange: MSP; Berlin and Frankfurt Stock Exchanges: NJA) (the “Company”) is pleased to announce that it is in discussions with the Government of Lambayeque Province, Peru for the construction and nonclinical operation of a multi-disciplinary 300 bed hospital in Chiclayo city.

Pursuant to the submission of Expression of Interest by Minaean SP Construction as per the request from  the Provincial Government of Lambayeque Province,  Governor Mr. Anselmo Lozano made a press release to this effect and allocated a parcel of land in Chiclayo city upon receiving the unanimous approval from his cabinet. The hospital project which is to be executed on a Public Private Partnership model needs a consortium of companies with variety of expertise and Minaean SP Construction has signed agreements with global companies such as Perkins & Wills, Currie & Brown and SYMX Holdings – Health Care of USA.

Subsequently, a Memorandum of Understanding (MOU) was negotiated with Government of Lambayeque which has been submitted to the Federal Government of Peru for approval. Due to strict lockdowns and shift in priorities caused by the pandemic situation there has been a delay in obtaining the approval. MSP has now been advised that the Governor of Lambayeque is ready to resume discussions and get the approval of the MOU from the federal government.

About the Company

Minaean SP Construction Corp. is a company well known for its pioneering efforts in the manufacture of light gauge steel components for the construction industry and modular metal buildings in India. The strong, affordable, ecologically sustainable structures present a promising solution to the mass housing shortages in developing countries in addition to a range of conventional applications. The company is an affiliate of well known construction conglomerate “Shapoorji Pallonji Group” (SP) from India. SP is known for its expertise in construction of hospitals with 45 such projects completed with a total bed capacity exceeding 19000 beds.

The shares of Minaean SP Construction Corp. (parent company) are publicly traded on the TSX Venture Exchange under the symbol “MSP” 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 SP CONSTRUCTION CORP.

 “Mervyn Pinto”

Mervyn Pinto
President & Director

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