Nov 19 2009
Cavico Corp. (NASDAQ: CAVO), a leading infrastructure development company based in Vietnam, today announced that the joint operations of Cavico – COMA – Song Da, has signed an Engineering, Procurement, and Construction (EPC) contract with VRG – Dak Nong (VRG - Dak Nong Joint Stock Company) with a total value of $30.2 million. Cavico, the leader of the joint operation, expects its portion of the total revenue to be worth $18 million.
For this project, Cavico will be responsible for constructing the main dam, a spillway dam, an overpass bridge, a water-intake portal, a headrace tunnel, a water diversion tunnel, a coffer dam, a vertical surge sharp tank and the service roads of the construction site. Cavico expects to complete its scope of work in 27 months. COMA will be responsible for purchasing the material and supplies, as well as the mechanical installation associated with the construction site and Song Da will be responsible for the overall design of the hydropower plant.
The Dak Sin hydropower plant is located near the Dak Sin stream, off the Dong Nai River, which is south of Dak Nong Province, just north of Ho Chi Minh City. The twin-unit plant is owned by Vietnam Rubber Group (VRG) – Dak Nong Joint Stock Company, a member of Vietnam Rubber Group. The hydropower plant will have a capacity of 28.4 Megawatts upon completion.
“Cavico is happy to be selected as the leader and main contractor for this EPC construction project at Dak Sin’s hydropower plant. Our team looks forward to working with two of Vietnam’s leading and highly experienced contractors, COMA and Song Da, on this project,” comments Mr. Hai Thanh Tran. “We are confident in our ability to successfully coordinate the scope of work with our partners and complete this project with the highest quality and in a timely and efficient manner.”
Source: http://www.cavicocorp.com/web/cavico/default.html