SOURCE: Infrastructure Developments Corp.

Infrastructure Developments Corp.

November 23, 2010 08:36 ET

Infrastructure Developments Enters Final Negotiations on Major Angolan Housing Project

HERNDON, VA--(Marketwire - November 23, 2010) - Infrastructure Developments Corp. (OTCBB: IDVC) announced today that its subsidiary, Intelspec International, Inc., is in the final stages of negotiation on an agreement to provide housing units to Angola. The prospective agreement will include the supply of materials, construction and project management services.

The prospective agreement is for the provision of up to 9,000 fabricated and pre-fabricated housing units as part of the Government of Angola's housing initiative. This project is a demonstration of the Government of Angola's commitment of approximately US $50 billion to provide up to 1 million housing units to its citizens in the wake of the substantial modernization taking place in the country.

The prospective agreement is being negotiated between Intelspec International, a strategic international partner with operations in Angola, and the Angolan investment company involved in the project. The total project value could exceed US $200 million.

"We have been working on this agreement, and the related logistics planning, for quite some time, and we are now reaching the final stages with all parties involved," stated Thomas R. Morgan, CEO of Infrastructure Developments Corp. "We are ready and able to perform on this project and our people have extensive experience on the African continent."

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.

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