PP bagged IKN projects worth Rp3.7 trillion
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 - PP kantongi proyek IKN Rp3,7 triliun
15 June 2023
By: Lorenzo A. Mahardhika
Jakarta - PT PP Tbk (PTPP) has secured contracts worth Rp3.76 trillion from Nusantara Capital City (IKN) development projects. The progress of several projects constructed by the company has achieved 100%.
PP Corporate Secretary Bakhtiar Efendi said that the projects secured by the company consisted of seven contracts, namely Central Government Core Area (KIPP) phase 1, KIPP phase 2, West Sumbu Kebangsaan, IKN Toll Road segment 3B (Kariangau-Sp. Tempadung), the State Palace, the Presidential Office, and the State Secretariat Ministry building.
“Currently, the company has completed the construction of KIPP phase 1 as the progress has achieved 100% in May 2023,” Bakhtiar explained in a written statement on Wednesday (14/6/23).
Furthermore, Bakhtiyar said that the company was currently working on KIPP phase 2. The progress has reached 52.14%, and it is set to be completed in November 2023. Regarding the progress of other projects, West Sumbu Kebangsaan has reached 22.36% in May 2023. Then, IKN Toll Road segment 3B (Kariangau-Sp. Tempadung) has reached 22.34%. The construction progress of the State Palace has reached 12.83%. The Presidential Office has reached 12.52%. Meanwhile, the progress of the State Secretariat Ministry building has reached 6.99%.
“Payment for IKN projects is made gradually according to the construction progress using the monthly payment system or the milestone payment system in accordance with the condition of the contract,” he said.
Besides that, the company through its subsidiaries, PT PP Presisi Tbk (PPRE) and PT Lancarjaya Mandiri Abadi (LMA), is boosting the completion of Cinere-Jagorawi toll road section 3. The project that is worth Rp1.2 trillion is scheduled to operate at the start of July 2023. Currently, the project has entered the final stage.
