More info. on CAVO. Hope my lottery stock hits big.
---------------------------------------------------- michsingles • Oct 1, 2012 11:25 AM
The company's aim is to increase its current backlog of projects within Vietnam and to cement its presence in the country's infrastructure sector. BMI believes that Cavico is well-placed in its operations in Vietnam. Its presence in the country has set a precedent and it has a history of partnerships with local state-owned contractors. Vietnam's planned infrastructure investments in the power and transport sectors present significant opportunities that could allow Cavico to achieve its aim of increasing its order backlog. This rose by 33.8% y-o-y to reach US$304.6mn as of June 30 2010.The firm also saw a loss of US$1.8mn in the second quarter of 2010. According to the company, this was due to the fact many of the company's hydropower construction projects were in the early stages, and not generating sufficient revenue to offset their initial construction costs. Once these projects progress further into completion, net income will increase as more revenues are generated.
Activity and ProjectsIn April 2011, Cavico Corporation announced that its subsidiary, Cavico Mining, had received an investment licence for the Tan My Hydropower Plant. The licence grants Cavico the right to build own and operate (B) a hydropower plant downstream from the Tan My Irrigation Reservoir. The plant will be built in the Phuoc Tan Village, Ninh Thuan Province. The plant has a designed capacity of 6MW and is estimated to cost US$6.7mn.In March 2011, Cavico Corporation announced that its subsidiary, Cavico Construction Manpower & Services, has signed a contract to construct the tunnel roof and grout the arch consolidation of a 1.4-mile-long rock transport tunnel at the Nghi Son cement plant, Thanh Hoa Province. The contract is valued at approximately US$1.3mn. Cavico expects to complete the project within seven months from the start of construction.In January 2011, Cavico Corporation announced that its subsidiary, Cavico Hydropower Construction, had signed a US$7.75mn tunnel construction contract with Song Giang Hydropower Joint Stock Company for the Song Giang 1 hydropower plant in Khanh Vinh District, in central Vietnam's Khanh Hoa Province. The twin-unit plant, which is located 31 miles from Nha Trang city, will have a 24MW annual capacity once it becomes operational. Song Giang Hydropower Joint Stock Company expects to invest a total of US$23.2mn in the plant.In December 2010, Cavico Corporation announced that its subsidiary, Cavico Bridge and Tunnel, had signed a US$6mn construction contract with Vietnam's state-owned electricity company, EVN, for the100MW Song Bung 2 hydropower plant project. Under the contract, Cavico will be responsible for the construction of three tunnels, a surge tank, and a power house. Cavico expects to complete construction by 2014.In October 2010, Cavico Corporation announced that its wholly-owned subsidiary, Cavico Hydropower, had successfully completed all construction activities at the Dong Nai 3 Hydropower Plant. The company has started the handover process to the project owner, EVN.In June 2010, Cavico Corporation announced that its majority-owned subsidiary, Cavico Bridge, and Tunnel JSC had signed a transport tunnel construction agreement with Korea-based Doosan Heavy Industries & Construction Co., Ltd. for the Noi Bai-Lao Cai Highway. The expected revenue value for this new contract is US$5.8mn, excluding VAT.In March 2010, Cavico announced it has won a contract for a US$2.1mn road construction contract related to this project. Cavico expects to complete its portion of the project in 20 months.In June 2010, Cavico Corporation announced that its majority-owned subsidiary, Cavico Mining, had signed a construction contract for construction of Portal No. 2 at Ngan Truoi reservoir of the Ngan Truoi Irrigation Dam located in Ha Tinh province.The expected revenue value of this contract is US$3.3mn; however, the contract also has cost escalation clauses, which may increase the revenues associated with the project. In May 2009, Cavico signed a contract for US$8.5mn to construct Portal No. 1 on the same site. Cavico will be responsible for the construction of a diversion dam, water intake gates and a groin dam distributor.Ngan Truoi reservoir's Portal No. 2 will be 2.5m in diameter and 464m in length.
* While we appreciate that mining activities are at the heart of the company's operations, for the purpose of this report we will only focus on the company's infrastructure operations. LOAD-DATE: September 27, 2012 Less
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