Cavico Infrastructure Development, a majorityowned subsidiary of Vietnam-based Cavico Corp, has signed a joint venture agreement with the Investment and Exploitation of Natural Resources Joint Stock Company (IERC). The JV aims at tapping the investment opportunities in the construction stones from Hang Co Mine. Cavico Infrastructure will invest in, exploit, process and market the stones, while IERC will handle the administrative operations and obtain licensing approvals. As for revenue distribution, IERC will get $0.40 per cubic metre of stone exploited, processed and marketed, while the remaining will be pocketed by Cavico Infrastructure, which expects to generate revenue of $9.5 million through the deal. |
