SOURCE: Cavico Corporation

May 16, 2007 09:30 ET

Vinavico Receives Permission to Build the Thac Ca Hydropower Plant

Company to Invest Approximately US $43.75 M Into Project

LOS ANGELES, CA and HANOI, VIETNAM -- (MARKET WIRE) -- May 16, 2007 -- Cavico Corporation (PINKSHEETS: CVCP) announced today that Vinavico, a Hanoi listed company of which Cavico Corporation has a 17% ownership stake, received permission No. 641/UBND-CN from the Yen Bai People's Committee to invest into and build the Thac Ca hydropower plant.

The plant will be built in the form of a BOO (Build Own Operate) arrangement and will have a capacity of 35 MW upon completion. Thac Ca hydropower will be located in Dai Phac village, Yen Bai province. The total investment into the plant will be approximately US $43.75 million. The project will begin construction toward the end of 2007 and will be completed in 2009.

More information will be made available as the project gets underway.

About Cavico Corporation

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 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 people. For more information, visit http://www.cavicocorp.com.

A profile for investors can be accessed at http://www.hawkassociates.com/cvcpprofile.aspx.

For investor relations questions, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com, or visit http://www.americanmicrocaps.com or http://www.hawkassociates.com. Investors can also contact Mark Moline at (760) 458-4899, e-mail: mark@cinapsys.com.

Safe-Harbor Statement

This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Cavico Corporation to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Cavico Corporation assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products and services, inability to deliver products and services when promised, inability of potential customers to pay for ordered products and services, and political and economic risks inherent in international trade.

U.S. Office:
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Phone: (714) 843-5456
Fax: (714) 843-5451

Contact Information

  • Contacts:

    Cavico Corporation Investor Relations
    Hawk Associates, Inc.
    Frank N. Hawkins, Jr.
    (305) 451-1888
    Email Contact

    Media and Communications
    Cinapsys, Inc.
    Mark Moline
    (760) 458-4899
    Email Contact

    For Cavico Corporation
    Timothy Pham
    (714) 843-5456
    Email Contact