Cavico CRE requires a total investment of $14M. An initial investment of $4.2M will be contributed within 90 days after receiving the investment license. The remaining $10M will be contributed within three years following the initial start-up.
According to the share structure, Cavico Vietnam will own 10%, or 2,400,000 shares and Cavico Transport, a subsidiary of Cavico Vietnam, will own 20%, or 4,800,000 shares of Cavico CRE. The founding partners plan to offer the remaining shares of Cavico CRE to outside investors.
“Cavico believes that our focus on renewable energy is a strategic move in the right direction for the Company,” said Mr. Hai Thanh Tran, Cavico’s vice president. “We will continue to build upon our market-leading position with traditional engineering, construction and infrastructure projects, as well as invest in some select real estate projects, we believe that we can leverage our expertise and apply these skills towards building our renewable energy capabilities.”
The company’s first project will be the the Cau Dat wind power plant, located in Lam Dong province.
