Cavico Corp. (CAVO) Announces Tunnel Construction Contract
Cavico Corp. has a proven track record of large-scale infrastructural development and natural resource exploitation in Vietnam. They announced yesterday the award of a contract from Vinh Son – Song Hinh Hydropower Joint Stock Company to construct an access tunnel and road servicing the Thuong Kon Tum hydro-electric plant. The contract is broken into two phases, with estimated revenue for the first phase of $7 million and $5 million for the second. Phase one of the project entails the excavation of an access tunnel 1.8 kilometers in length which will be large enough to accommodate the vehicles servicing the plant,…