Cavico Wins the Bidding for Package 4 of Da Ban Irrigation Dam Contract Valued at $2.5 Million

LOS ANGELES & HANOI, Vietnam--(BUSINESS WIRE)--Cavico Corp. (“Cavico” or “the Company”) (OTCBB: CVIC.OB), a leading infrastructure development company in Vietnam, today announced that Cavico Energy Construction JSC (“Cavico Energy”), a wholly own subsidiary of Cavico Corp, won the contract bid involving construction of an overfill spillway (Package 4) for Da Ban Irrigation Dam. The minister of the Vietnam Ministry of Agriculture and Rural Development signed the winning bid for Cavico Energy valued at approximately $2.5 million.

As part of the contract, Cavico Energy will be responsible for excavating and removing 160,000 cubic meters (m3) of common earth and rock for dam foundation and constructing 9,000 cubic meters (m3) of concrete walls and water slopes. Cavico Energy is required to complete the contract within 27 months.

Supported by the world organization Official Development Assistance (ODA) funds, the 162-square-kilometer Da Ban Irrigation Dam was constructed in the 1980s and is located in the Ninh Hoa district, north of Khanh Hoa province, Vietnam. The 26-meters high and 348-meters long dam has a reservoir volume of 79.2 million cubic meters and provides water to 9000 hectares of farming land in the south central region of Vietnam. It has recently been upgraded and modernized as a result of increasing demand for farming activities and the growing population in this region.

“With our valuable experience at the Buon Tua Shar, Ka Nak, and Ba Ha projects, we are confident that our team will successfully complete this project in a timely and efficient manner,” commented Mr. Ha Thanh Trung, president of Cavico Energy. “The winning of the contract reflects Cavico’s positive market reputation and the Ministry’s confidence in our capabilities in the fields of irrigation and hydropower construction.”

About Cavico Corp. (OTCBB: CVIC.OB)

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 3000 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 organizations. 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.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company’s ability to obtain the necessary financing to continue and expand operations, to market its construction services in new markets and to offer construction services at competitive pricing, to attract and retain management, and to integrate and maintain technical information and management information systems; the effects of currency policies and fluctuations, general economic conditions and other factors detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission and other regulatory authorities. These statements include, without limitation, statements regarding our ability to prepare the Company for growth, the Company’s planned expansions, and predictions and guidance relating to the Company’s future financial performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Cavico Corp.
Timothy Pham, 714-843-5456
Vice President and Director
cavicohq@cavico.us
or
CCG Investor Relations Inc.
Roger Ellis, 310-477-9800
Senior Vice President
Roger.ellis@ccgir.com
http://www.ccgir.com