Infrastructure Developments Awarded Design Build Contract in Indonesia
Sep. 29, 2010 (Marketwire) --
HERNDON, VA -- (Marketwire) -- 09/29/10 -- Infrastructure Developments Corp. (OTCBB: IDVC) announced today that its subsidiary, Intelspec International, Inc., has been awarded a design-build contract for the Lido Phase II Project in Indonesia.
The contract was competitively bid and awarded to Intelspec by the US Navy in the amount of $1,198,727. The work consists of designing and building a two storey barrack, dining facilities, a mess hall, a kitchen, roads, parking areas, and site utilities.
"Winning this contract is strategically important for our expansion into Indonesia and builds on Intelspec's continued relationship with the US Government as the right choice for difficult projects in remote locations of South East Asia," said Darren Smith, VP of Intelspec. "Our project management team and key subcontractors have experience with US Government contracts and Indonesian construction. We expect that the successful completion of this contract will propel Intelspec into involvement with numerous projects in the area."
Intelspec is pursuing other US Government and private projects in Indonesia that are scheduled for award in the coming months.
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.
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 our ability to procure design and management projects, competitive market conditions, and our 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 10-Q and Form 10-K. Infrastructure's public filings may be viewed at www.sec.gov.
Contact:
Infrastructure Developments Corp.
Thomas Morgan
CEO
703.574.3211
trmorgan@idvcinc.com
www.idvcinc.com
Morningstar Corporate Communications
Chris Dove
President
888.876.9995
info@mscorpcommunications.com
www.mscorpcommunications.com
Source: Marketwire (September 29, 2010 - 5:32 PM EDT)
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