Client for the almost US$395M project is Electricity of Viet Nam (EVN), and Cavico’s tunnelling works contract is valued at about US$20M.
Cavico has also started tunnel excavation at the 180MW Dong Nai 3 hydro project near Boa Lam village in Lam Dong province, about 280km north of Ho Chi Minh City. In a statement, the company said it hoped to complete the headrace tunnel in 19 months, which is three months ahead of schedule.
EVN appointed Cavico to build the headrace tunnel for the US$195M hydro project. The value of the tunnelling contract is US$6.25M. Construction of the project began in December 2004 and the plant is due to begin generating electricity in 2009.
Earlier this month the company announced it had applied to build a US$265M hydro project on the Dak My river, which would see it taking on developer and operator roles for the first time. It hopes to gain government approval for the scheme and bring the plant – the first in a proposed cascade system – online in 2011.
In recent months Cavico has also completed excavation at the 33MW Bac Binh scheme, which is ahead of schedule to come online next year. The company is in late stages of tunnelling works on the 280MW Buon Kuop project, and is due soon to begin excavation for the 30MW Za Hung hydro plant
