OVERVIEW
Minaean International Corp. (TSX-V: MIB; US Symbol: MNIEF.PK) is a light gauge steel construction company with two wholly owned subsidiaries. Minaean Habitat (India) Pvt. Ltd. (“MHI”) is the primary subsidiary which runs the company’s Asian operations with a strong and sustainable market presence in India. Minaean Building Structures Inc. (“MBS”) operates in the North American market and has a market presence in British Columbia, Oregon & Washington.
Based on the initiatives from Canadian Commercial Corp. (CCC), a crown corporation of Canada, to promote affordable housing projects in Ghana, Minaean launched a business promotion wing in 2011 in Accra and registered "Minaean Ghana Inc." a wholly owned subsidiary. The company’s executives made number of trips to Accra, Ghana from December 2010 to date to promote its affordable housing products and was successful in signing a service agreement with CCC for promoting contracts for construction of staff housing for Health Ministry, Ghana. Further to the Memorandum of Understanding signed between the two governments for constructing 30,000 affordable homes Minaean was tasked to coordinate and conduct surveys of the land bank available for submission of proposals. The company, ever since then, has succeeded in getting the land allocated, concept designs prepared and accepted and carry out Detail Project Study on both of the projects. Due to the magnitude of the projects and the high values of financial guarantees required, the company has transferred the service agreement with CCC and the entire project in favor of Montreal based “Dessau Inc.”, there-by taking a role of that of a sub-contractor. The commercial and financial proposals for construction of 665 units in four storey walk-up apartment buildings has been submitted to the ministry and is under discussions. The contract is expected to be awarded in 2013 and execution to start immediately there-after.
Minaean International Corp. has signed an Memorandum of Understanding with Nanjing based “ Nanjing Construction Group” for construction of 5000 units for Security and Defence forces in Accra, Ghana based on the approval of the consortium from Ministry of Water Resources, Works and Housing. The team is expected to submit the proposals and start the contract negotiations in 2013.
North America based Minaean Building Structures Inc. uses it’s trademarked ‘Artisan Quik Build’ technology to construct light gauge steel buildings cost effectively, quickly and in an environmentally friendly manner. The company has successfully executed contracts to design, fabricate, supply and install structural wall panels and Hambro floors for number of buildings in Oregon, USA exceeding a square footage of approx. 350,000. Minaean’s light gauge steel solutions are quickly adopted to manufacture and install the super structure of a 4 to 8 storey building within 3 months. Herein, Minaean’s use of light gauge steel proves to be the most cost effective construction material as compared to wood, concrete or structural steel. The modularity of the solution deems it easy and quick to construct within a controlled factory environment. The construction material is environmentally friendly and therefore contributes to sustainable construction. The modular panels, once constructed within the factory setting, are then transported to site and quickly erected like LEGO blocks at the average of 1 floor (approx 50,000 sq. ft.) per week. MBS uses this technology to erect steel wall panels of buildings in combination with the flooring system of Hambro, a subsidiary of CANAM Steel.
Minaean Habitat (India) Pvt. Ltd. has taken the concept of modular construction a step further and strategically diversified into a multi-industry portfolio comprising of residential, commercial and infrastructure development solutions. While residential construction services remain the trademark of Minaean, MHI has quickly consolidated its name as the prime provider of commercial modular construction services in the India market. Within the scope of commercial solutions MHI manufactures and installs ATM Kiosks for banks, Street Furniture ranging from Bus Queue Shelters to Public Urinals, Site Camps and other temporary accommodations, and gas station outlets amongst other products. MHI recently mapped another white space in the Indian market within the infrastructure development industry.
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