Pan-United to provide sustainable concrete solutions to Vietnam's Novaland
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
CONCRETE and cement provider Pan-United Corporation P52 has signed a cooperation agreement with Novaland Group for its subsidiary, FiCO Pan-United Concrete Joint Stock Company (FiCO PanU), to provide sustainable concrete solutions to the Vietnam property company for over 2 years.
The cooperation agreement will last from this year to 2024, said Pan-United on Thursday (Jan 6). Under it, FiCO PanU is to build two on-site batching plants in Aqua City, a smart-eco integrated development by Novaland in Vietnam's Dong Nai province.
The two plants of FiCO PanU - a joint venture between the Singapore-based Pan-United Corporation (Pan-United) and Vietnam's FiCO Corporation - will collectively supply about 700,000 cubic metres of ready-mix concrete to the Aqua City development over a 21/2-year period, Pan-United said. The first plant was commissioned last month.
Using carbon-capture technologies, the company will develop "high-quality concrete and high-performance low-carbon mortar" for the Aqua City integrated development and subsequently, for other Novaland developments, Pan-United said.
The Aqua City integrated development will consist of residential units and amenities such as schools, hospitals, a sports complex, and a shopping and entertainment complex.
FiCO PanU has previously supplied ready-mix concrete to Novaland's building projects across Ho Chi Minh City. Both parties have worked together for more than 10 years.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
Steven Loh, general director of FiCO PanU, said the partnership with Novaland highlights its "shared commitment" in meeting Vietnam's sustainable building development needs, and in contributing to the country's goal to achieve net-zero carbon emissions by 2050.
Shares of Pan-United Corporation closed at S$0.34, up S$0.005 or 1.5 per cent, on Thursday.
READ MORE:
- Pan-United to power concrete mixer trucks with electricity, hydrogen fuel cells
- Vietnam could be region's 'brightest star' in 2022; market growth likely led by banks, retail, energy: Maybank
- Economic, societal potential of green economy a key growth driver for Asean
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
