This will see FiCO PanU - a subsidiary of Singapore-listed Pan-United Corporation - providing sustainable concrete solutions to Novaland, a major brand in the real estate investment and development industry in Vietnam.
Under the terms of the agreement, FiCO PanU will construct two onsite batching plants at the site of Aqua City, a large-scale smart eco-urban integrated development in Dong Nai province undertaken by Novaland, by 2022. Collectively, the two plants will supply about 700,000m3 of ready-mix concrete to the Aqua City project over a two-and-a-half-year period. FiCO PanU has commissioned the first plant in December 2021.
Located in Bien Hoa, Dong Nai, the Aqua City project includes residential units and high-endamenities such as schools, hospitals, a sports complex, a shopping and entertainment complex.
FICO says the convenient location of the batching plants onsite will facilitate the efficient and timely supply of concrete. This will also minimise fuel, energy and water use across the project operations and reduce embodied carbon emissions associated with the delivery of raw materials. Additionally, it allows the construction site to benefit from a continuous supply of concrete and ensures the efficient progress of the project, to meet project completion deadlines.
FiCO PanU will develop high-quality concrete and high-performance low-carbon mortar using its PanU CarbonCure carbon capture and utilisation (CCU) technologies over the period, first, for the Aqua City integrated development, and subsequently for other Novaland developments.
Steven Loh, general director of FiCO PanU, said of the partnership with Novaland: “We look forward to playing a meaningful role in the development of the iconic Aqua City and to fulfilling our commitments to Novaland developments in Ho Chi Minh City and Dong Nai. This partnership also highlights our shared commitment towards sustainable building development needs for the Vietnamese market and our contributions to the achievement of Vietnam’s stated goal of net-zero carbon emissions in 2050.”
FiCO Pan-United Concrete Joint Stock Company (FiCO PanU) began operations in 2011 as a joint venture between the Singapore-based Pan-United Group (Pan-United) and Vietnam’s FiCO Corporation. FiCO PanU now claims to be the leading concrete brand in Ho Chi Minh City with a combined capacity of 840m3 per hour, operating from seven batching plants in Hiep Phuoc, Thu Duc City and Dong Nai.
