Last week, i-FM reported on the creation of an American-based company providing internet services targeted at the construction industry. Launched this week is the UK's own e-commerce service for the same sector.

Build-Online.com expects to be handling £3bn of activity on its site by the end of the year. It reckons e-commerce can deliver a 23% savings in construction costs overall and reduce project completion times by 15%.

Build-Online. Com will offer two functions - first, as a marketplace for buyers to find and purchase building materials and services, and second, as a platform for project management.

Mark Suster, CEO, and formerly a senior strategist at Andersen Consulting, says: "E-construction will transform the construction industry and will finally deliver the IT benefits that industries such as retail and financial services have enjoyed."

The company, backed by both US and European venture capital, started operations in Ireland last year. It has been notably successful in attracting the participation of buyers, designers and at least one major government agency.

Membership of Build-Online.com is free. It makes its money by charging a fee on transactions carried out on the site.

Elliott Chase