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BANISTER SUBSIDIARY PART OF JOINT VENTURE CONSORTIUM

 BANISTER SUBSIDIARY PART OF JOINT VENTURE CONSORTIUM
 TORONTO, Aug. 7 /PRNewswire/ -- Banister Inc. (AMEX: BAN) announced


today that its civil construction subsidiary, The Foundation Company of Canada Limited, is part of a joint venture consortium with Continental Construction Limited of New Delhi, India, which is the apparent low bidder for a portion of the Nathpa Jhakri Hydro-Electric Project in India.
 If a contract for this work is awarded to the consortium, Foundation's share of it would be valued at approximately CDN $215 million. Confirmation of contract award, if any, is not expected before year-end.
 Banister Inc. is a Canadian-based construction firm specializing in building, civil, industrial, pipeline and utility construction.
 -0- 8/7/92
 /CONTACT: E.R. Austin, president and chief executive officer; or C.N. D'Croix, vice president and chief financial officer, 416-754-8735, of Banister/
 (BAN) CO: Banister Inc. ST: Ontario IN: CST SU: JVN


PS -- NY022 -- 7978 08/07/92 11:13 EDT
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Aug 7, 1992
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