This Vancouver Construction Company Continues to Trade Undervalued with a Long List of Projects in the Pipeline.
A Vancouver-based general contracting company, with a list of international jobs in the pipeline, is trading for just eight cents apiece right now. From early this year, the company has enjoyed a progressive climb from shares at three pennies each. In January, it exercised over 4.5 million stock options at a strong premium of 15 cents per share. Over three million of these options went straight to the Mumbai-based Indian conglomerate, Shapoorji Pallonji Group (SP) — a 156-year-old company with number of subsidiaries with group revenue in excess of US$ 7 Billion in the 2018-2019 Financial year.
As a General Contractor, executing contracts constructing smart city projects, malls, hospitals, premium hotels, railways, ports and managing real estate, textiles, engineered goods and even biotechnology, SP has put its stamp of approval on the low trading construction company:
Minaean SP Construction Corp (
TSX-V:MSP). SP now sits as an affiliate, consultant, and major shareholder of the company. Combining the financial backing of SP, and the Canadian-based networking of Minaean, the Indian conglomerate continues to parlay major construction opportunities throughout the snowy neighbour bordering America and around the world.
Minaean’s pipeline of jobs — Africa, Costa Rica, and Peru
The Canadian company, by their own words, seeks to service construction jobs in strong, affordable, and ecologically sustainable projects. Last year, Minaean worked across government contracts worth $126 million. In the pipeline for this year and beyond, the company already has its hands in several projects including locations in West Africa, East Africa, Costa Rica, and Peru.
Minaean has been developing a deal with the Ivory Coast’s Ministry of Health since 2016 for a $101 million neurosciences hospital. The building, located in Abidjan, will feature 140-beds. Politics and an election in the region proved to be a speed bump for the project, but the Canadians expect to get back on track later this year.
Travel outside of central Abidjan and you’ll find another job with Minaean’s name on it. Minaean used its relationship with SP to get its hands on the construction of Adiake University and students campus. The university, when complete, will house 5000 students at its campus. Minaean is working closely with SP and its JV partner in cooperation through a teaming agreement on the project and has concluded a binding Memorandum of Understanding with the Govt. of Ivory Coast. The project will be executed in phases.
However, Minaean isn’t just engaging with Africa’s educational and healthcare sector. In 2019, the company secured the interests of Govt of Uganda for construction of an Industrial Park at Kessesse, Uganda. Project proposal complied through the assistance of SP has been submitted to the Uganda Investment Authorities and has been accepted. Team members of Minaean have travelled to the region to broker the deal with investment authorities and the Ministry of Finance.
Minaean, SP, and Aksa team members with Ugandan Minister of Finance Dr. Gabriel Ajedra (5
th from the left).
Image taken from Minaean media release.
Meanwhile, Minaean Chief Executive, Mervyn Pinto, travelled to Costa Rica to rally for three contracts for the company — projects which have been shortlisted for financing and execution. Export Development Canada, a consultant for overseas business opportunities, has already issued a letter of support for financing of a hospital project. With the government’s focus now on resolving the economic crisis caused by the pandemic these projects are on hold, awaiting the go ahead to resume discussions in due course.
Head your way south to Peru’s province of Lambayeque and you’ll find even more work Minaean is engaged in. Utilising its relationship with SP, the construction company expressed interest on construction of a hospital on a Public Private partnership basis.
Peruvian Lambayeque Governor, Anselmo Lozano.
Image taken from Minaean media release.
Minaean has submitted an expression of interest in Lambayeque, for a 400 bed multi-disciplinary hospital. This deal has been developed through discussions with Lambayeque Governor, Anselmo Lozano. The governor has made the announcement to the public. Land has been allocated for the project and Lozano has passed a draft MoU to the federal government for approval.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.