According to a representative of Conrock Australia Vietnam, the firm invested about US$3.5 million to build the facility with a total annual capacity of some 500,000 cubic meters of concrete. It is considered a new environmentally friendly technology solution for construction of industrial facilities, apartments, and office and commercial centers, the representative said. Australia’s Conrock International Group has transferred technology to local partner Conrock Australia Vietnam JSC to produce precast concrete products in Vietnam.

Speaking at the inauguration, Deputy Minister of Construction Nguyen Tran Nam said local construction potential is huge as around 100 million square meters of home will be developed under the nation’s housing development strategy. Therefore, it is necessary to apply the new solution to speed up construction progress and to minimize expenses, Nam told the ceremony.

Conrock Australia Vietnam expects the technology to help reduce construction costs by between 10% and 15% depending on scales of projects and shorten construction time by 20-30%.