Mina Corp Responds to Award of New Manas Contract

DUBAI, UAE, November 4, 2010 /PRNewswire/ -- The U.S. Department of Defense yesterday awarded Mina Corp a new contract to supply jet fuel to U.S. forces at the Manas Transit Center in Kyrgyzstan. The award of the contract follows a competitive bidding process by the Defense Logistics Agency.

Commenting on the contract award, Mina Corp's Director of Operations Chuck Squires said, "Mina Corp has extraordinary capabilities as a supplier of fuel products. We are pleased to have the opportunity to continue our support of the U.S. armed forces at Manas Transit Center and in Afghanistan. Mina looks forward to continuing its longstanding partnership with the U.S. Department of Defense."

As the National Security and Foreign Affairs Subcommittee of the House Committee on Oversight and Government Reform noted in a statement released in conjunction with the award of the contract to Mina, "The Department of Defense has devoted significant high-level attention to improving transparency in contracting at Manas. Today's contract award, after an open and competitive solicitation, is an important step forward."

Separately, Mina Corp and its sister company, Red Star, welcome the Subcommittee's conclusion that it "has not uncovered any credible evidence to support the allegations that the Bakiyev family or their affiliates owned or received financial benefits from the fuel contractors". This conclusion follows several months in which Subcommittee investigators "closely scrutinized Mina and Red Star's ownership and operations."

The companies co-operated with the Subcommittee's investigation and provided testimony and other evidence that the allegations of corruption against them are demonstrably false. Consistent with the evidence, the Subcommittee reported that its "investigation has not uncovered any underlying corruption in the Manas fuel contract."

The companies have always held themselves to the highest legal and ethical standards and have conducted and will continue to conduct their operations in a manner that justifies the Department of Defense's ongoing confidence in them.

SOURCE Mina Corp