This article has been translated by PwC Indonesia as part of our Indonesia Infrastructure News Service. PwC Indonesia has not checked the accuracy of, and accepts no responsibility for the content.
Investor Daily - PTPP raih kontrak baru Rp3,5 triliun
6 February 2024
Jakarta, ID – As of 31 January 2024, PT PP Tbk (PTPP) has secured new contracts totalling Rp3.5 trillion, reaching 99.96% of the total realisation from the previous year.
PTPP Corporate Secretary Bakhtiyar Efendi stated that the contract value achieved by PTPP until January 2024 marked a significant milestone. This realisation underscores the company's commitment and consistency in fortifying its core business in construction, aligning with its ambition to achieve its target by the end of 2024.
“We are thankful that at the start of 2024, we can obtain promising new contracts. This motivates us to achieve our target this year. Our current focus lies on completing numerous national strategic projects (PSNs) and those within Nusantara Capital City (IKN). Throughout these endeavours, we remain dedicated to upholding standards in quality, HSE, and risk management,” Bakhtiyar said in his official statement on Monday (5/2/2024).
A significant portion of PTPP's new contracts in the early part of this year originated from government projects, accounting for 90.50%, while state-owned enterprise (SOE) projects constituted 7.76%, and private projects made up 1.74%. Among these contracts, the road and bridge sector held the highest value, contributing 62.03% to the overall value of new contracts. The building sector followed with 28.47%, the port sector with 7.76%, and other sectors collectively contributing 1.74%.
Meanwhile, based on the project, PTPP will work on Wing 2 of the Public Works and Housing (PUPR) Ministry Office worth Rp815.5 billion, Road Section 6C worth Rp746.6 billion, Serang-Panimbang Toll Road Section 3 worth Rp622.4 billion, Sumbu Kebangsaan Road West Stage 2 worth Rp469.9 billion, and Toll Road 3B Stage 2 worth Rp359 billion.
Simultaneously, as of January 2024, PTPP has completed 16 out of its 30 PSNs. These projects include Indrapura-Kisaran Toll Road worth Rp4.3 trillion, Tiu Suntuk Dam Package 2 worth Rp577 billion, Batang Integrated Industrial Estate (KIT) Wastewater Treatment Plant (WWTP) worth Rp 310 billion, STS Martadinata Access of Serpong-Cinere Toll Road worth Rp142 billion.
“PSN completion is the company’s commitment to contribute to national infrastructure development,” he added. The composition of PSNs is distributed across various sectors, with 56.24% in the toll road sector, 18.02% in the dam sector, 14.02% in the EPC sector, 9.15% in the port and dock sector, 1.82% in the airport sector, and 0.75% in the industrial sector.
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