Cavico Corporation Begins Inlet Tunnel Excavation on the $333 Million Dong Nai 4 Hydropower Project
Value of Construction Contract Estimated to Be Over $26 Million
LOS ANGELES, CA and HANOI, VIETNAM--(MARKET WIRE)--Jul 11, 2006 -- Cavico Corporation (Other OTC:CVCP.PK - News) (www.cavicocorp.com), a Vietnamese company working in the fields of infrastructure development, including the construction of hydropower facilities, dams, bridges, roads, mines and urban buildings throughout Vietnam and the Pacific Rim, has been appointed by the Prime Minister (Viet Nam) under regulation 797, 400, to be the lead contractor for tunnel works construction on the Dong Nai 4 Hydropower Project. The project is located in Lam Dong province, 150 kilometers (93 miles) from Dalat City and 240 kilometers (149 miles) north of Ho Chi Minh City.
"After nearly five months of open works excavation, portal shotcrete, PC Anchoring and other preparations, we have begun the inlet excavation for the tunnel works on the Dong Nai 4 project," stated Pham Dinh Son, Head of Cavico's Planning & Marketing Department.
The project is projected to generate 270 Mega Watts of power with a total investment by EVN (Electricity of Viet Nam) estimated at 5,000 billion VND ($333.33 million USD equivalent). The value of the project to Cavico is approximately
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