Syncorana Group of Australia and Steco Centar of Bosnia and Herzegovina have signed a joint venture agreement to establish Steco (Australia) Pty Ltd, a new company set to manufacture and supply prefabricated homes across Australia and Oceania.
The agreement brings together Syncorana’s focus on Indigenous economic development, housing construction and workforce training with Steco’s three decades of experience designing and manufacturing prefabricated housing systems.
The partnership is expected to mark a significant step toward building an advanced manufacturing facility to meet Australia’s growing demand for affordable, sustainable and high-quality housing.
Under the terms of the agreement, the joint venture plans to invest approximately $150 million in establishing a local manufacturing facility.
Once operational, the plant is expected to have the capacity to produce up to 3,000 prefabricated homes per year, using European manufacturing technology adapted to meet Australian standards and market conditions.
A central feature of the venture will be the integration of Syncorana’s registered training organisation, the Living Planit/Dreamtime Institute of Training and Management.
The institute is intended to become a national centre of excellence for prefabricated construction, advanced manufacturing and modern building techniques.
It is designed to support the development of a skilled workforce, both Indigenous and non-Indigenous, capable of manufacturing, assembling and installing prefabricated building systems for the Australian market.
The training centre will also aim to create employment pathways for Aboriginal and Torres Strait Islander peoples, apprentices, school leavers and veterans.
Steco (Australia) is expected to supply a wide range of construction sectors, including residential housing, Indigenous affordable and social housing, aged care centres, early childhood learning facilities, workforce accommodation and commercial developments.
The venture is also intended to complement Syncorana’s broader Indigenous housing strategy, which is planned for rollout through its national network of Indigenous partnerships.
Carlton Taya, Chief Executive Officer and Managing Director of Syncorana Group, described the agreement as a defining milestone for the company, saying it unites proven international manufacturing expertise with an Australian vision for transforming home construction.
He said the venture aims to deliver high-quality prefabricated housing faster, more efficiently and at scale, noting that “Australia is facing one of the most significant housing supply challenges in its history”.
Taya added that the partnership extends beyond manufacturing, with an emphasis on creating skilled jobs, supporting Indigenous economic participation and applying technology and artificial intelligence to build a smarter, more sustainable housing industry.
Milenko Stevanović, Chairman of Steco Centar, said: “We believe Australia represents an exciting opportunity to apply our experience to one of the world’s most dynamic housing markets.”
Stevanović said the partnership would combine European engineering expertise with Australian manufacturing capability, and highlighted the inclusion of a dedicated training centre where Steco’s engineering knowledge and manufacturing systems can be transferred to a new generation of Australian professionals.
