Benin President Boni Yayi Signs Exclusive MOU with Ekram J. Miller, President of IDC Corporation

$3.2 Billion Investment in Infrastructure Will Start with Completed Feasibility Study

News provided by

Intercontinental Development Corporation

Sep 14, 2011, 10:59 ET

ROCKVILLE, Md., Sept. 14, 2011 /PRNewswire-iReach/ -- President of Benin, Dr. Boni Yayi, today met with American Businessman, Ekram Javad Miller, President and CEO of Intercontinental Development Corporation. President Yayi visited the United States in July of this year, and met with Mr. Miller at the Benin Embassy in Washington D.C. to discuss infrastructure investment projects totaling $3.2 billion U.S. Dollars. President Yayi then extended his personal invitation for Ekram Miller and the IDC Team to visit his country in September of 2011.

Mr. Ekram Miller worked on the details of this visit with the Prime Minister of Benin, H.E. Honorable Pascal Koupaki in the IDC headquarters in Maryland, USA. They drafted a detailed and exclusive Memorandum of Understanding which outlines the projects most valuable to the citizens of Benin. Mr. Miller agreed to present it to President Dr. Boni Yayi during the September meetings in Benin.

E.J. Miller's company, Intercontinental Development Corpor ation, paid the cost the pre feasibility visit of the IDC team to Benin in early September of 2011. Immediately upon arrival, Mr. Miller began meetings with President, Dr. Boni Yayi and other ministers to develop ecologically sound projects which will enhance the national economy and create jobs.

During these meetings the Master Plan discussed by Mr. Miller and President Yayi earlier in 2011 was refined into Eleven Basic Projects for the betterment of Benin. These projects encompass the Economic Issues that President Yayi began focusing on during his 2006 election, and include:

Improving and expanding the drinking water systems for the entire country.
Building new hospitals throughout Benin's province cities and Cotonou while modernizing the entire National Health Care System.
Expanding public infrastructure beginning with electricity.
Expanding and improving the national railway system, and creating a 21<sup>st</sup>century interprovincial highway system.
Establish a National Airport focused on tourism and trade.
Establish a National Airline
Establishment of an American University and Administrative Tower
Construction of Low Cost Housing.
Establishment of a guaranteed home loan system for the general public, similar to but less complex than the US Federal Housing Administration
Identification of New Mineral Resources
Identification and protection of specific Natural Resources

E.J. Miller also discussed implementing a monorail system that would save the average citizen of Benin close to 750CFA daily while cutting travel time to and from work by 70%. This Monorail would be similar to the one scheduled for Accra, Ghana and will rely on the new, green technology to minimize the ecological impact.

After President Boni Yayi signed the Exclusive $3.2 Billion Memorandum of Understanding with Intercontinental Development Corporation, he then met with the Ambassador of India, His Excellency, Mr. Mahesh Sachdev, and the Ambassador of the Republic of China. His Excellency, Mr. Mahesh Sachdev agreed to work with President Yayi to remove barriers to fast forward the implementation of projects. Last year, the Peoples Republic of China agreed on $9.3 billion to Africa, specifically the countries of Benin, Sudan, Gabon and Ghana to develop modern hydroelectric generation facilities and other necessary infrastructure.