Cavico Corp (fka CAVO)

[lakingsphan0427]

Cavico Completes Construction of the Dasiat Hydropower Plant
HANOI, Vietnam--(BUSINESS WIRE)--September 8, 2009-- Cavico Corp. (OTCBB: CAVO), a leading infrastructure development company based in Vietnam, today announced that its wholly owned subsidiary, Cavico Hydropower Construction JSC (“Cavico Hydropower”), has completed the construction of the Dasiat Hydropower Plant and has begun the process of transferring the project over to Southern Hydropower Joint Stock Company, the project’s owner.

Cavico Hydropower started this $4.6 million construction project in July 2006. Cavico Hydropower constructed and supplied equipment for waterways including surge tanks, intakes, the headrace tunnel, and other construction related work surrounding the valve house. Cavico Hydropower used the blasting method to construct a headrace tunnel which is 1.44 miles long and 91 inches in diameter. The tunnel is considered to be the narrowest tunnel ever constructed in Vietnam by Cavico.

The Dasiat Hydropower Plant is located on the main flow of the Dasiat River, which is downstream from Dong Nai 3 and Dong Nai 4 hydropower plants, in Lam Dong Province, approximately 99 miles from Da Lat City and 155 miles north of Ho Chi Minh City. The hydropower plant has been designed and engineered to have 13.5 megawatts capacity and is expected to supply 57.7 million kilowatt-hours of electricity per year to the region.

“We are very pleased to announce the completion of Dasiat Hydropower Plant as per schedule,” commented Mr. Hai Thanh Tran, vice president of Cavico Corp. “We will continue with the process of completely handing over the project to Southern Hydropower Joint Stock Company next month.”

About Cavico Corp.

Cavico Corp. is focused on large infrastructure projects, which include the construction of hydropower facilities, dams, bridges, tunnels, roads, mines and urban buildings. Cavico is also making investments in hydropower facilities, cement production plants and urban developments in Vietnam. The company employs more than 3,000 employees on projects worldwide, with offices throughout Vietnam and a satellite office in Australia.

Founded in 2000, Cavico is a major infrastructure construction, infrastructure investment and natural resources conglomerate headquartered in Hanoi, Vietnam. Cavico is highly respected for its core competency in the construction of mission-critical infrastructure including hydroelectric plants, highways, bridges, tunnels, ports and urban community developments. One of the Company’s primary competitive advantages is its ability to nurture a project “from concept through completion” with a vertical portfolio of interrelated investment, permitting, design, construction management and facility maintenance services. Cavico’s project partners include top multi-national corporations and government organizations. The Company employs more than 3,000 full-time, part-time, and seasonal workers. For more information, visit http://www.cavicocorp.com. Information on the Company’s Web site or any other Web site does not constitute a portion of this release.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company’s ability to obtain the necessary financing to continue and expand operations, to market its construction services in new markets and to offer construction services at competitive pricing, the Company’s ability to complete projects in the time frame specified; anticipated revenue from the projects to attract and retain management, and to integrate and maintain technical information and management information systems; the effects of currency policies and fluctuations, general economic conditions and other factors detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission and other regulatory authorities. These statements include, without limitation, statements regarding our ability to prepare the Company for growth; the Company’s planned expansions, and predictions and guidance relating to the Company’s future financial performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts
Cavico Corp.
Timothy Pham, Vice President and Director
Tel: [phone]
[e-mail]
or
CCG Investor Relations Inc.
Roger Ellis, Partner & Senior Vice President
Tel: [phone]
[e-mail]
http://www.ccgir.com



Source: Cavico Corp.

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http://www.businesswire.com/news/home/20090908005502/en