Cavico wins tunnel contract for 170-MW ALuoi

Vietnam hydro project builder Cavico Corp. has received a second construction contract for the 170-MW ALuoi hydroelectric project in A Luoi District of Vietnam’s Thua Thien Hue Province.

Cavico said the latest contract is to build the longest, most complicated tunnel in Vietnam, a headrace tunnel and surge tank, seven miles long and 13 to 19 feet wide. The work is to require 40 months.

In 2006, developer Central Hydropower Joint Stock Co. awarded a contract to Cavico for service road work at the US$202.1 million project. (HNN 8/16/06) Cavico said both of its contracts total US$55.4 million.

Central Hydropower signed a credit contract June 29 with the Bank for Agriculture and Rural Development to obtain 1.2 trillion dong (US$74.6 million) for ALuoi’s construction. (HNN 7/3/07) The bank is lead agency for three other co-creditors, Vietnam-Thailand Joint Venture Bank, An Binh Joint Stock Commercial Bank, and Rubber Financing Co.

Major shareholders in ALuoi are Electricity of Vietnam, Hanoi Power Co., Power No. 2 Co., and Power No. 3 Co. Upon completion in 2010, the project is to produce 686.5 million kWh annually.

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