Infrastructure Developments Corp. (OTCQB: IDVC) (OTCBB: IDVC) announced today that its subsidiary, Intelspec International, Inc., expects to open a representative and support office in southern Africa from which to expand its base of operations to projects in the region.
Salt Lake City, UT, March 09, 2011 -- Infrastructure Developments Corp. (OTCQB: IDVC) (OTCBB: IDVC) announced today that its subsidiary, Intelspec International, Inc., expects to open a representative and support office in southern Africa from which to expand its base of operations to projects in the region.
The African continent, rich in oil, minerals, natural gas and other natural resources, is an excellent place to focus on project management. Many African governments are anxious to improve infrastructure as a means to attract business and increase investment in their respective countries. The combination of resources and politics translates into an ever expanding demand for internal development.
"We are excited about our expansion opportunities in Africa," stated Thomas R. Morgan, CEO of Infrastructure. "A regional office on the continent will greatly expand our ability to maximize these opportunities."
Potential office locations in southern Africa are now being evaluated for optimal support of business opportunities, including the prospect of providing logistical support for Angola's US$50 billion housing initiative intended to build one million affordable homes. Intelspec recently entered into a memorandum of understanding to become the lead project manager for the construction of up to 9,000 homes under this initiative. Since Intelspec's prospective involvement in the housing project could last from three to five years, an operational base of operations would be required.
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. Staffed by key personnel with decades of experience in performing work for the US Department of Defense and the US Department of State, Infrastructure is familiar with the complex requirements of government contracts and the unusual challenges of performing high standard work in challenging environments.
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.
Infrastructure Developments Corp
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