Cavico Corp. Breaks Ground on Its Calcium Carbonate (CaCO3) Plant

Tuesday, April 22, 2008
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 tons of calcium carbonate will be produced annually. Cavico anticipates it will recover their $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 tons respectively.
Cavico intends to develop an additional calcium carbonate plant at Thung Xan where the reserves are estimated to be 25 million tons. 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. (BUSINESS WIRE)