This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cavico Plans To Benefit From Major Infrastructure Developments In Vietnam

HANOI, Vietnam, March 9, 2011 (GLOBE NEWSWIRE) -- Cavico Corp. (Nasdaq:CAVO) ("Cavico" or the "Company"), a major infrastructure civil engineering design and construction conglomerate based in Vietnam, today announced that it plans to benefit from several key infrastructure developments in Vietnam.

Recent developments that could positively impact Cavico include the following:
  • The proposed construction of a four-lane tunnel underneath the Red River, the largest river in northern Vietnam, during a meeting held in late February by the People's Committee of Hanoi. The tunnel would link Hoan Kiem District, the commercial center of Hanoi, with Long Bien District, a developing urban area of Hanoi. The committee will consider the details of the project and submit its recommendation to the Prime Minister for approval.  
  • The increase in loans pledged to Vietnam to $2 billion by the Asian Development Bank ("ADB") to support the development of Vietnam's infrastructure, financial planning and education sectors.  
  • Nokia, a multinational communications corporation, announced on March 2 that it plans to construct a $276 million manufacturing facility near Hanoi. Cavico anticipates that the infrastructure in the area surrounding the complex will need to be expanded and upgraded to support the facility's operations.

"These developments represent excellent opportunities for Cavico," commented Mr. Ha Quang Bui, CEO of Cavico. "We are particularly excited about the proposed Red River tunnel, as Cavico is the only domestic construction contractor with expertise in the use of tunnel boring machine technology and has an industry-leading technological capability to build underwater tunnels. We have years of experience working on a wide range of large-scale infrastructure construction projects and will work with project organizers to bid on and secure construction contracts as Vietnam continues to expand and develop its infrastructure."

Mr. Bui continued, "We are also encouraged by the recent $2 billion pledge from the ADB, which reflects Vietnam's growing attractiveness to foreign investors. Vietnam is Asia's second fastest-growing economy behind China, and in recent years, the Vietnamese government has implemented policies to create a more favorable investment environment. As the nation's largest non-government-owned construction company, Cavico is strongly positioned to take action to benefit from increased foreign investment in Vietnam's infrastructure sector. We see numerous growth opportunities ahead and are very optimistic about the long-term growth of our business."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs