Cavico Corp (Cavico) today announced that KASVINA, its wholly own subsidiary, has initiated construction of its calcium carbonate (CaCO3) manufacturing facility in Nam Cam Industrial Park, Vinh City, Nghe An province, located 186 miles north of Hanoi. It is expected that 60,000 tonnes of calcium carbonate will be produced annually. Cavico anticipates it will recover their US$5 million investment within an estimated three to four-years.
Calcium carbonate (CaCO3) is used for road building and as an ingredient in cement. It has other industrial applications including plastics, rubber, coating, construction materials, paper-making, processing, pharmacy, agriculture and feeds. Currently, Vietnam imports calcium carbonate. Cavico intends to export calcium carbonate to Japan, the European Union, China, and India, in addition to domestic sales.
It is anticipated that the calcium carbonate plant will be completed in seven months and in operation by December 2008. Raw materials for manufacturing calcium carbonate (CaCO3) will be supplied by two plants owned by KASVINA, Thung Voi and Thung Tom plants, located in Tan Ky city, Nghe An province. Their white mineral reservation capacity is estimated to be 872,000 and 10 million tonnes respectively.
Cavico intends to develop an additional calcium carbonate plant at Thung Xan where the reserves are estimated to be 25 million tonnes. This plant will be located in the city of Quy Hop, also located in Nghe An province.
As the largest non-government owned infrastructure construction company in Vietnam and a leader in Vietnam’s energy and hydropower infrastructure construction, Cavico continues to expand. Cavico has begun to explore other rapidly growing areas of development in Vietnam and recently invested in the development of industrial complexes, urban infrastructure as well as building materials. Cavico believes its strong reputation will attract the financing needed to participate more fully in Vietnam’s prolific mining industry.
About Cavico Corp.
Cavico 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. Headquartered in Hanoi, with 3000 employees at projects worldwide, the company has 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 organisations. The company employs more than 3,000 people. For more information, visit http://www.cavicocorp.com.
Timothy Pham, 714-843-5456
Vice President and director
CCG Investor Relations
Mark Collinson, Partner, 310-231-8600 X117