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 - PT PP raup kontrak baru Rp8,9 triliun
Jakarta, ID – As of May 2024, PT PP Tbk (PTPP) has secured new contracts worth Rp8.9 trillion, marking a 31.25% increase from its contract realisation of Rp6.7 trillion last year.
PTPP Corporate Secretary Senior Vice President (SVP) Bakhtiyar Efendi said that, with the new contract realisation until May, the company was optimistic about achieving its 2024 target. “PTPP is committed to supporting the government in completing national strategic projects (PSNs), especially those that will operate this year,” Bakhtiyar said in his official statement on Sunday (9/6/2024).
He mentioned that, as of May, PTPP’s contract value primarily came from government projects, which accounted for 53.02% of the total. This was followed by state-owned enterprise (SOE) projects at 32.49% and private projects at 14.49%. The road and bridge sector contributed the highest percentage of the contract value at 55.06%, followed by the building sector at 39.30%, the port sector 3.84%, the industrial sector 1.09%, the oil and gas sector 0.53%, and the power plant sector 0.18%. “In May 2024, PTPP's contract value increased due to several factors, road projects in the central government core area (KIPP) of Nusantara Capital City, construction in the west residence area valued at Rp732 billion, the construction of Freeport's port-site accommodation complex worth Rp326 billion, and new contracts from subsidiaries totalling Rp1.36 trillion,” Bakhtiyar revealed.
Bakhtiyar emphasised PTPP's ongoing commitment to enhancing infrastructure development, particularly with regard to the Nusantara Capital City (IKN) project. PTPP has successfully completed several projects within IKN, including phase 1 of the KIPP preparation project. Moving forward, the company will proceed with phase 2 of the KIPP preparation project, the IKN logistics pier project, and phase 1 of the west side of the Jalan Sumbu Kebangsaan project.
As of now, Bakhtiyar mentioned that the State Palace project, including its ceremony field within the presidential area, has reached 69.4% completion, surpassing the set progress target by 1.3%. “Then, the Presidential Office Building project is also progressing positively with realisation of 89.9%, surpassing the set progress target by 0.7%,” Bakhtiyar added.
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