Cavico updates progress on major construction projects

Cavico Corp. (NASDAQ: CAVO – News), a leading infrastructure development company based in Vietnam, today provides updates at key construction projects at Ta Trach Reservoir, Dambri Hydropower and A Luoi Hydropower Plants. As discussed further below, Cavico has successfully broken through the diversion tunnel at Ta Trach Reservoir, completed and handed over to project owner of Dambri Hydropower the road construction package – DR-XL 1&2 and completed the vertical shaft of package G61 at the A Luoi Hydropower Plant.

At the Ta Trach reservoir, Cavico has used the New Austrian Tunneling Method (NATM) to excavate and construct a 295 meters long and 17.45 meters high diversion tunnel. The Ta Trach Reservoir is located on the upper part of Huong (Perfume) River in Duong Hoa village, Huong Thuy district, Thua Thien Hue province. Ta Trach Reservoir is the second largest project in the central region of Vietnam and belongs to Hydropower Management No. 5, a part of Ministry of Agriculture and Farming.

For the Dambri Hydropower Plant, Cavico completed the service road that leads traffic from the main road to the construction site and a bridge that is 33 meters long and 7 meters wide. The plant is located 87 miles northeast of HCM City in Da Huoai village, near Da Teh city in Lam Dong province of Vietnam. The $80 million plant is owned by Southern Hydropower Joint Stock Company and will have 75MW of capacity.

Cavico applied the most modern technology of Robbins 61R to successfully drill a vertical shaft that is 128 meters long and 4.54 diameters wide at the A Luoi Hydropower Plant. The plant, owned by Central Hydropower Joint Stock Co., is located in Thua Thien Hue province, 43 miles west of Hue city and 100 miles northwest of Da Nang city. The plant will have a capacity of 170 MW and is expected to become operational at the end of 2012.

“Our ability to handle these complicated and sophisticated projects once again demonstrates our market leadership position as one of Vietnam’s leading contractors. The completion and handing over of the above packages at these critical projects is an important step in the overall construction process for Cavico. Projects are typically done in phases and once a phase has been completed, the owners will inspect and certify the scope and quality of our work and remit payment for that portion of the contract. Cavico has built a solid reputation of providing quality work in a timely manner and our customers depend on us to execute the task at hand in an efficient, timely and safe manner,” commented Hai Thanh Tran, vice president of Cavico.

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 organisations. 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.

Contact:

Cavico Corp.

Timothy Pham, +1-714-843-5456

Vice President and director

[email protected]

or

Grayling

+1-646-284-9400

Investor Relations

Tr�c Nguyen (ext. 418)

Managing director

[email protected]

or

Christopher Chu (ext. 426)

Director

[email protected]

or

Media Relations

Ivette Almeida (ext. 455)

Managing director

[email protected]

Tags: Cavico, vietnam stock, Vietnam stock market