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Minaean keen for role in Mumbai slum rehab
By Prashant C. Trikannad
Minaean Habitat (India) Pvt. Ltd, which manufactures and markets rapid construction housing technologies, intends to popularise its building technologies in three other states-New Delhi, Karnataka and Maharashtra-apart from Jharkhand at present. The company will target clients in the residential, commercial and industrial segments. Minaean's primary technologies are Vesta Quik and Artisan Quik build systems.
The company is keen to participate in the Maharashtra government's slum rehabilitation programme in Mumbai. "We have held initial discussions with urban development experts and local builders in the city. We hope to partner local builders in this venture after which the MoU with the state government will come into play," Capt. Mervyn J. Pinto, Chairman, Minaean Habitat (India) Pvt. Ltd, says. Apparently, builders do not look upon pre-engineered and prefabricated structures as a threat because of the "huge" potential of the real estate market in Mumbai.
Presently, MHI, a fully-owned subsidiary of Minaean Ventures Inc., the low-cost Canadian housing solutions company, is concentrating most of its activity in and around Jamshedpur because of its alliance with Tata Steel and, as Capt. Pinto points out, "due to the encouraging response from the Jharkhand government." MHI has signed an MoU with Tisco for assistance in the marketing of steel-intensive buildings. In August 2003, it concluded an agreement for construction of schools in the state.
In recent months, Minaean has signed two significant MoUs. The company, which has introduced cost-effective construction systems in developing countries, entered into an MoU with M. Kumar & Associates Pvt. Ltd, New Delhi, to jointly undertake construction projects in Libya. The JV will construct a model apartment unit in Libya.
Minaean Building Solutions Inc., a wholly owned subsidiary of Minaean International Corporation, has tied up with Power MBS Structures Inc. Langley, British Columbia, for execution of large contracts. The latter has patented innovative systems like the MBS Isolation Beam and the MBS Silent Building System. "These systems, when integrated with ours, will enable us to erect up to 10-storey pre-engineered buildings," Capt. Pinto states. The purpose of the MoU is to form a consortium of companies to work on large infrastructure projects in India and Libya.
The Rs 10-crore Minaean Habitat (India) hopes to achieve a turnover of Rs 50 crore in three years and Rs 200 crore in five years.
Contact: Minaean Habitat (India) Pvt. Ltd, #202, Syndicate Chambers, Swami Nityanand Road, Andheri (East), Mumbai-400069. Tel: 22-56778600 (3 lines); Fax: 22-56792848
Minaean keen for role in Mumbai slum rehab
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