Cavico is Awarded Dam Construction Contract as a Part of the Ta Trach Water Reservoir for $3.4 Million

2008-07-17 08:50:00

HANOI, Vietnam–(EMWNews)–Cavico Corporation (OTC BB: CVIC) (Cavico

or the Company), a

leading infrastructure development company in Vietnam, today announced

that the Company has entered into an agreement to construct dams on the

Huong (Perfume) River and create Ta Trach water reservoir for $3.4

million. The reservoir will be located in Duong Hoa village, Huong Thuy

district, Thua Thien Hue province.

Cavico will begin construction of the 717-square kilometer reservoir in

August 2008 and it is expected to be completed by December 2011. The

Company will construct the main dam which will be 1,112 meters in

length, 56 meters high and 8 meters wide. In addition to the main dam,

four sub dams of total 660 meters in length and an overflow dam with six

releasing gates will also be constructed.

This is a part of Package #20 of Ta Trach reservoir which is the second

largest project in the central region of Vietnam. The project belongs to

Hydropower Management No. 5, a part of Ministry of Agriculture and

Farming.

The dam will limit damages caused by floods in the Hue city, a site of

previously devastating floods. In addition, Ta Trach reservoir will also

supply water to 35 hectares of farming land in the Huong (Perfume) river

region, help control the water flow, and limit the salt level in the

river. The reservoir may become a hydropower plant with a capacity of

18,000 KW that would generate an average of 60 million kwh per year.

The Vietnamese government continues to invest

into important flood control and hydropower dam projects throughout the

country, demonstrating a commitment to infrastructure development,

commented Mr. Hieu Van Phan, Vice President of Cavico Corp.

About Cavico Corp. (OTCBB: CVIC)

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. Headquartered in Hanoi, with 3000 employees at projects

worldwide, the company has 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 companys

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. Cavicos

project partners include top multi-national corporations and government

organizations. The company employs more than 3,000 people.

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 products in new markets and to offer products at competitive

pricing, to attract and retain management, and to integrate and maintain

technical information and management information systems; compliance

with laws and regulations of the PRC, 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. 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.

Cavico Corp.
Timothy Pham, 714-838-5456
Vice President and

Director
Cavicohq@cavico.us
or
Investor

Relations:
CCG Investor Relations
Roger Ellis, 310-231-8600
Senior

Vice President
roger.ellis@ccgir.com

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