Cavico Corp (fka CAVO)

[98point6NY]

Cavico Signs $9.43 Million Tunnel Construction Contract
April 8, 2008 11:51 UTC
Cavico Signs $9.43 Million Tunnel Construction Contract for Huoi Quang Hydropower Plant
HANOI, Vietnam--(BUSINESS WIRE)-- Cavico Corp. (Cavico) (OTCBB:CVIC) today announced that Cavico Transportation, its wholly own subsidiary, has signed a contract for tunnel construction at Huoi Quang Hydropower Plant. The value of the contract is estimated to be approximately $9.43 million.

Huoi Quang Hydropower Plant is expected to generate 520 megawatts of power upon completion. It is anticipated to be one of the four largest hydropower plants in Vietnam. The other three large hydropower plants are Son La, Hoa Binh, and Lai Chau. Huoi Quang will be built on Da River in Muong La and Than Uyen villages in Lai Chau province, 280 miles northwest of Hanoi.

Electronic of Vietnam (EVN) has announced its intention to invest $630 million in the Huoi Quang Hydropower Plant. The plant, which was named in Vietnam’s Governmental Agenda for electricity expansion encompassing 2006 to 2015, is expected to be in operation by 2012. The 2-unit plant will generate an average of 1.84 billion kilowatts per year and will ease the shortage of electricity in the country.

Cavico Transportation has initiated the process of transporting both equipment and personnel to the Huoi Quang hydropower plant site. Upon completion of this contract Cavico Transportation expects to receive additional works on this project.

Public filings for Cavico Corp. can be found at http://www.sec.gov.