Minaean International Corp. has announced that its wholly owned subsidiary, Minaean Habitat (India) Pvt. Ltd. (MHI), has secured a purchase Order from Axis Bank for the supply and installation of a prototype of an ATM Kiosk to be erected in Mumbai, India.
Axis Bank joins MHI's other clients who have ordered ATM Kiosks including State Bank of India, ICICI Bank and Canada Bank.
Axis Bank is one of the top four Indian banks, previously known as UTI Bank, and is pursuing its mandate to expand in to semi-urban regions of India. The award of this trial order gives MHI an opportunity to tap in to the bank's ATM kiosk requirements as it continues its expansion efforts. ATM Kiosks remain a key product in the Modular Buildings division of MHI. The units are wholly manufactured and prefabricated in-house and then shipped to site for installation under the supervision of MHI engineers.
In May of this year, MHI announced securing a contract for the supply and installation of 27 ATM Kiosks to be erected in the state of Gujarat, India. This Axis Bank prototype order comes at a time when most of the banks are working towards providing ATM facilities to the masses throughout India.
State Bank of India expects to have 12,000 ATMs within India by the end of 2010, up from their current total of more than 9,000. The target number of ATMs throughout India for all other banks in the current financial year is expected to exceed 10,000 units. These developments are indicative of the scale of the potential ATM Kiosk business opportunity available to Minaean this year. The Indian Government's mandate to install "information kiosks" in more than 100,000 Indian villages presents another opportunity for the company within this sector, according to the announcement.
