WSBP Wins New Contract Of IDR 20.5 Billion From The Shangri-La Hotel Jakarta Project

JAKARTA - PT Waskita Beton Precast Tbk (WSBP) won a new contract from Shangri-La Hotel worth IDR 20.5 billion. The project that expanded the WSBP market share was the construction of the Shangri La Hotel & Shangri La Residences and Utility Building Flyover in Shangri La Hotel in Central Jakarta.

WSBP Vice President of Corporate Secretary Fandy Dewanto said Bridge connecting on Jalan Karet Pasar Timur 2 along 96 meters (m) could connect Shangri-La Residences and Shangri-La Hotel Jakarta properties.

This project will also begin to be carried out in January 2024 and is targeted for completion by the end of the year.

Fandy said that this project was obtained by his party from the PT Estetika Binagriya project owner. In this project worth IDR 20.5 billion, WSBP will work on structures, architectures to Mechanical, Electrical and Plumbing (MEP).

"We will immediately start working this month and target completion by the end of 2024," he said in a written statement, quoted on Saturday, January 13.

He added that his party is committed to completing this construction service work according to the targets set with the support of qualified human resources and quality construction technology.

According to Fandy, this new contract is a good opening for WSBP to achieve other projects. "This is also proof that WSBP is trusted to supply and work on various infrastructure projects," he said.

As of November 2023, WSBP has recorded a New Contract Value (NKB) of IDR 1.38 trillion. This new contract is dominated by external projects of 76 percent, such as the Feeder IKN Road Project, the Tempadung Segment IKN Project-Basic Island Bridge, the Bayung Lencir-Tempino Project Section 1, the Sumbawa LNG Terminal & Regasification Project and other projects.

In the short term, continued Fandy, his party has many new opportunities to supply quality Beton Precast and Readymix products to other government projects, as well as expansion into external projects both at home and abroad.

"Meanwhile, for the next 3-5 years there will be market potential from IKN development as well as projects originating from the non-Waskita Group," he added.