Jun 18 2010
Cavico Corp. (NASDAQ: CAVO), a leading infrastructure development company based in Vietnam, today announced that its majority owned subsidiary, Cavico Mining, has signed a construction contract with Project Management Unit No.1 to construct an access road to avoid flooded roadways on Highway 279 at the Ban Chat Hydropower Plant.
Cavico Mining’s scope of work will be to construct a 2,000 meter long access road, which will be used mainly for drivers as a detour from flooded roadways. The project is expected to be completed by the end of 2011 and the expected revenue value of this contract is $1.5 million.
The Ban Chat Hydropower Plant is located along the Nam Mu River in the Muong Kim village, in the province of Lai Chau, which is located in the northern most part of Vietnam. The 220-megawatt plant, owned by Electricity of Vietnam, is considered the second largest project in Lai Chau province.
The project was started in early 2006 and is expected to be in operation by mid-2012 and will provide 1.3 billion kWh per year to the national grid.
Ban Chat Hydropower Plant
The 1.7-billion-cubic-meter Ban Chat reservoir plays a crucial role in supplying water to the of Red (Hong) River’s drier lower-stream region during the dry season and reduces the frequent flooding which happens often in the Lai Chau and Son La regions.
“We are very pleased to be awarded this road construction contract,” comments Mr. Hai Thanh Tran, vice president of Cavico Corp. “Cavico brings a tremendous level of experience in road construction projects, specifically those relating to many critical national hydropower plants. We are confident that our team will complete the contract on schedule and we hope to win more contracts related to work at the Ban Chat Hydropower Plant.”
Source: http://www.cavicocorp.com/