Oct 14 2009
Cavico Corp. (NASDAQ: CAVO), a leading infrastructure development company based in Vietnam, today announced that it has completed construction of the Buon Kuop Hydropower plant and is in the process of transferring the project over to its owner, Electricity of Vietnam (EVN).
In December 2003, Cavico Bridge and Tunnel began construction of surge tanks, intakes, the headrace tunnel, and other construction work surrounding the valve house. Staff and equipment used for the Buon Kuop Hydropower plant will be reassigned to other civil construction projects currently in progress.
The Buon Kuop Hydropower Plant is located on the main flow of the Srepok River in Buon Me Thuot village in Dac Lak Province, which is approximately 150 miles north of Ho Chi Minh City. The hydropower plant has been designed and engineered to have two 140 Megawatt capacity units and is expected to supply 1.4 billion kilowatt-hours of electricity per year through the national electronic grid. EVN has successfully tested the two units during the validation process upon project completion.
"We are extremely pleased to announce the completion of Buon Kuop Hydropower Plant 31 days ahead of schedule," commented Mr. Hai Thanh Tran, vice president of Cavico Corp. "We are in the final stages of the transfer process and will quickly hand the project completely over to our long standing client, Electricity of Vietnam."
Source: Cavico Corp.