Infrastructure Developments Corp. Signs MOU to Lead Major Angolan Housing Project

Document Sample
Infrastructure Developments Corp. Signs MOU to Lead Major Angolan Housing Project Powered By Docstoc
					Infrastructure Developments Corp. Signs MOU to Lead Major Angolan Housing
Project

Infrastructure Developments Corp. (OTC.BB:IDVC - News) announced today
that its subsidiary, Intelspec International, Inc. has signed a
memorandum of understanding to supply construction materials and project
management services for a major housing project in Angola.

Salt Lake City, UT, February 24, 2011 -- Infrastructure Developments
Corp. (OTC.BB:IDVC - News) announced today that its subsidiary, Intelspec
International, Inc. has signed a memorandum of understanding to supply
construction materials and project management services for a major
housing project in Angola.

The understanding names Intelspec as the lead project management company
for the construction of up to 9,000 fabricated and pre-fabricated housing
units as part of an Angolan government housing initiative. The 9,000
house concession was awarded to a major Angolan investment firm last
year, which has selected Intelspec as the project manager. Intelspec will
also be working with an international consulting firm with operations in
Angola. The total project value could exceed US$200 million and is
expected to take approximately 3 – 5 years to complete.

This project is a part of the of Angolan government’s renewed commitment
of approximately US$50 billion to provide up to one million housing units
to its citizens in the wake of substantial modernization.

“We have been working on this initiative, and the related logistics
planning, for quite some time now, and are extremely pleased that
Intelspec has been selected as the management company for the project,”
stated Thomas R. Morgan, CEO of Infrastructure. “Intelspec’s
participation in this project is a testament to our ability to provide
quality project management and construction services in an extremely
efficient and economical manner under demanding conditions in
multicultural environments.”

About Infrastructure Developments Corp.:
Infrastructure is an engineering and construction services company that
services an underserved niche in the global project management spectrum,
targeting specialized projects and subcontracts that are too small to
attract giant multinational firms, but which still require world class
engineering expertise.

Forward-Looking Statements:
A number of statements contained in this press release are forward-
looking statements. These forward-looking statements involve a number of
risks and uncertainties including Infrastructure's ability to procure
design and management projects, competitive market conditions, and
Infrastructure's prospects for securing additional sources of financing
as required. The actual results that Infrastructure may achieve could
differ materially from any forward-looking statements due to such risks
and uncertainties. Infrastructure encourages the public to read the
information provided here in conjunction with its most recent filings on
Form 8-K, Form 10-Q and Form 10-K. Infrastructure's public filings may be
viewed at www.sec.gov.
Suzanne Holbrook


Contact:
Thomas Morgan
Infrastructure Developments Corp.
Salt Lake City, UT
202.579.9472
trmorgan@idvcinc.com
http://www.idvcinc.com

				
DOCUMENT INFO
Shared By:
Categories:
Stats:
views:12
posted:2/24/2011
language:English
pages:2