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Cavico Corp. (Nasdaq: CAVO) $1.55. Today announced that its subsidiary, Cavico Bridge and Tunnel, has scheduled a third and final tunnel breakthrough at the A Luoi Hydropower project. The breakthrough is scheduled to take place during the second week of April 2011.
In July 2007, Cavico was awarded a contract to excavate the headrace tunnel as well as four sub-tunnels, a surge tank, a vertical shaft, and a service access road. The Company broke through the first and second sub-tunnels in August and December 2010, respectively. Cavico expects the A Luoi project to generate $53 million in total revenues for the Company.
Cavico employed the New Austrian Tunneling Method ("NATM") and blasting method to excavate the main and sub-tunnels. The headrace tunnel is 7.27 miles long, excluding sub-tunnels, and 21.3 feet wide. It is considered the longest and most sophisticated tunnel to be constructed in Vietnam.
What They Do: Cavico Corp. is focused on large infrastructure projects, which include the construction of hydropower facilities, dams, bridges, tunnels, roads, mines and urban buildings.
Capstone Turbine (Nasdaq: CPST) $1.74. Today announced it sold six additional C65s to a prominent natural-gas producer whose current fleet of 49 Capstone microturbines has exceeded 1 million run time hours.
Pumps & Service, the Capstone Turbine distributor responsible for selling and securing the robust fleet of natural gas microturbines since 1999, indicated that the six additional C65 microturbines will expand the producer's minigrid system in New Mexico's San Juan Basin. The six new C65 microturbines, which will be installed in June, will be part of a microturbine generation station that provides power to pumping and water transfer units at remote sites via a complex underground electrical system.
"This is Pumps & Service's longest running project using Capstone microturbines," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "With extremely remote wellsites in mountainous terrain that averages 6,500 feet in elevation, the producer needs an exceptionally reliable power source. Many of the microturbines in this company's fleet have run for 12 years. They are incredibly durable."
What They Do: Capstone Turbine Corporation is the world's leading producer of low-emission microturbine systems, and was the first to market commercially viable microturbine energy products.
China Armco Metals (AMEX: CNAM) $2.35. Today announced that it has delivered its first shipment of 150,000 metric tons of iron ore, valued at $19.8 million, from Mineracao Usiminas S.A (Usiminas), one of Latin America's largest producer of steel based in Brazil. With a total capacity of 9.5 million metric tons of steel per year, Usiminas' order marks the start of a long term relationship between the two companies. With this agreement concluded at a recent meeting between the management of both companies in Brazil, China Armco becomes the first company to assist Usiminas to export its iron ore to China.
"We are delighted to commence our partnership with international giant steel mills such as Usiminas," said Mr. Kexuan Yao, Chairman and CEO of China Armco. "With the intention of the Usiminas to deliver 3 million metric tons of iron ore in 2011, as well as potentially 20 million metric tons in 2012 to China, we appreciate the confidence and support by the management of Usiminas by executing this agreement. We are pleased with their acknowledgment of our strong capabilities to assist them in reaching their objectives. At the same time, this strategic relationship offers us a strong opportunity to secure our metal distribution position in China while maximizing profitability."
What They Do: China Armco Metals, Inc. is engaged in the sale and distribution of metal ore and non-ferrous metals throughout the PRC and is in the recycling business with the recent launch of operations of a metal recycling facility capable of producing up to approximately one million tons per year located on 32 acres of land.
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