In order to reduce construction costs in Austria, which have led to soaring property prices, VÖZ (the association for the Austrian cement industry) and the Vienna University of Technology (TU Wien) have formed a new private company named Smart Minerals.
The latter has €500,000 of initial capital, and both TU Wien and VÖZ hold 50% in the company.
Smart Minerals will carry out research projects which should make construction more sustainable, qualitative and cheaper.
