Cavico deploys 150 additional engineers and skilled workers to Algeria
Source: 26-JUL-2008 Intellasia | Business Wire
Jul 26, 2008 - 7:00:00 AM Cavico Corp ("Cavico" or "the Company"), a leading infrastructure development company in Vietnam, today announced that Cavico Tunnel Construction, Cavico's wholly owned subsidiary, has sent an additional group of engineers and highly skilled workers to work on the Eastwest Highway project in Algeria. Cavico has been sending workers to work on this project since July 2007.

After collaborating for one-year with Consortium Japonais Pour l'Autoroute Algerienne (COJAAL) to construct bridges, tunnels and roads along the border of Tunisia and El Attaf, Cavico employees were commended by COJAAL for successfully completing the tunnel construction work ahead of schedule. COJAAL is a joint venture formed by global construction companies Kajima, Hazama, Taisei, Nishimatsu, Maeda, and Itochu in Algeria to construct Eastwest Highway. The US$2.8 billion highway, which is expected to be completed by 2009, will be 400 kilometres long with six lanes, 22 intersections, 11 tunnels, and 55 overpasses. The 150 additional workers requested by COJAAL will supplement the existing 135 workers already on the site. Cavico's contract value is approximately US$2.4 million, the Co is being paid monthly based on completion of work and hours contributed by the Cavico workers.

"Cavico continues to undertake measures to expand its business outside of Vietnam. Initially providing skilled labour as a sub contractor, we plan to transition into providing full construction services in the future," commented Hai Thanh Tran, vice President of Cavico. "We have confidence in the talent of our skilled engineers and workers, whose presence in Algeria continues to expand Cavico's global footprint," added Tran.

About Cavico Corp (OTCBB: CVIC -News)

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. Headquartered in Hanoi, with 3000 employees at projects worldwide, the Co 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 Co employs more than 3,000 people.

Contact:

Cavico Corp.

Timothy Pham, 714-838-5456

Vice President and director

Cavicohq@cavico.us

or

Investor Relations:

CCG Investor Relations

Roger Ellis, 310-231-8600

Senior vice President

Roger.ellis@ccgir.com