Cavico Signs Contracts for Stone Stripping and Processing in the Central Region and Bridge Construction in the Northern Region of Vietnam

HANOI, Vietnam & HUNTINGTON BEACH, Calif.--(BUSINESS WIRE)--Cavico Corp. (OTCBB: CVIC.OB), a leading infrastructure development company based in Vietnam, today announced that its wholly owned subsidiary, Cavico Transport Construction JSC (“Cavico Transport”), has signed a contract for overburden stripping and stone processing with Dakdrinh Hydropower Joint Stock Company for work related to Dakdrinh’s hydropower plant in the Son Tan village, located in Quang Ngai province. The value of the overburden stripping and stone processing contract has revenue of approximate $1.4 million.

Dakdrinh plant, a 125 Megawatt hydropower plant, is considered to be the largest hydropower plant on Tra Khuc River serving power to Vietnam’s central region. According to the terms of this agreement, the scope of work for the first stage of the project entails the extraction of 700,000 cubic meters of stone in a five month period. Once extracted, the stones will be processed and used for construction purposes. The stone processing phase is expected to be completed at the end of 2013.

Cavico Transport also signed a bridge construction contract with the Rehabilitation Management Unit of Son La Hydropower plant, which revenue is valued at approximately $1.4 million. As part of the contract with Son La Hydropower, Cavico will be responsible for constructing four bridges along the road leading from Interstate 279 to Ca Nang in Muong Chien village, Son La province. A major part of construction work will involve pre-stressed concreting and concrete pole piling. Cavico expects to complete this project within a 23 month period. Interstate 279 is an important highway connecting the Northern provinces of Quang Ninh, Bac Giang, Lang Son, and Son La and is the fourth longest highway in Vietnam. The road being constructed by Cavico will improve the route to Son La hydropower plant, which will enable the project to be completed in a timely manner.

Mr. Hai Thanh Tran, vice president of Cavico Corp., stated, “We are pleased to announce these two contracts. With our extensive experience in managing similar hydropower and bridge construction projects, we look forward to this opportunity to help Dakdrinh Hydropower and Son La Hydropower as they continue to expand their facilities and serve their customers in the region. We are confident that our team will successfully complete these projects efficiently.”

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