Honeywell has made its first dotcom venture outside the United States with the launch yesterday of an Internet company which aims to cut the costs of the mainland's giant but fragmented construction industry by 30 per cent. The mainland's construction industry, made up of 500,000 companies with annual turnover of US$120 billion, accounts for 12 per cent of gross domestic product and is the largest in Asia outside Japan. None of the companies has more than 1 per cent market share. Harry Sim, president of MyConstruction.com, said studies in the US had shown that 15 to 20 per cent of project costs could be saved using Internet-based tools. That figure could reach 30 per cent in the mainland. His company will allow developers, architects, designers and buyers to communicate online, present documents, save on graphics and distribution, allow instant printing and keep a record of changes for audit purposes. 'In the US, the construction industry spends US$4 billion a year on mailing documents. This is the kind of money that could be saved,' he said. He said mainland ministries and companies had responded warmly to the Honeywell concept. Key customers will obtain the company's services free until the end of the year, while Honeywell trains them in using the system. Then it will obtain income from training, value-added services, consulting, printing, data storage and transaction fees from an electronic market place for construction materials. The company, registered in Delaware and headquartered in Hong Kong, will have offices in Shenzhen, Shanghai and Beijing, with a staff of 40, including 15 software engineers in India.