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Cavico Updates Progress On Major Construction Projects

Cavico Corp. (NASDAQ: CAVO), a leading infrastructure development company based in Vietnam, today provides updates at key construction projects at Ta Trach Reservoir, Dambri Hydropower and A Luoi Hydropower Plants. As discussed further below, Cavico has successfully broken through the diversion tunnel at Ta Trach Reservoir, completed and handed over to project owner of Dambri Hydropower the road construction package - DR-XL 1&2 and completed the vertical shaft of package G61 at the A Luoi Hydropower Plant.

At the Ta Trach reservoir, Cavico has used the New Austrian Tunneling Method (NATM) to excavate and construct a 295 meters long and 17.45 meters high diversion tunnel. The Ta Trach Reservoir is located on the upper part of Huong (Perfume) River in Duong Hoa village, Huong Thuy district, Thua Thien Hue province. Ta Trach Reservoir is the second largest project in the central region of Vietnam and belongs to Hydropower Management No. 5, a part of Ministry of Agriculture and Farming.

For the Dambri Hydropower Plant, Cavico completed the service road that leads traffic from the main road to the construction site and a bridge that is 33 meters long and 7 meters wide. The plant is located 87 miles northeast of Ho Chi Minh City in Da Huoai village, near Da Teh city in Lam Dong province of Vietnam. The $80 million plant is owned by Southern Hydropower Joint Stock Company and will have 75MW of capacity.

Cavico applied the most modern technology of Robbins 61R to successfully drill a vertical shaft that is 128 meters long and 4.54 diameters wide at the A Luoi Hydropower Plant. The plant, owned by Central Hydropower Joint Stock Co., is located in Thua Thien Hue province, 43 miles west of Hue city and 100 miles northwest of Da Nang city. The plant will have a capacity of 170 MW and is expected to become operational at the end of 2012.

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