PT PP Achieves IDR 8.9 Trillion Contract Until May 2024, Up 31.35 Percent

Illustration (Photo: Doc. ANTARA)

JAKARTA - PT PP (Persero) Tbk managed to record a new contract value of IDR 8.9 trillion until May 2024, up 31.35 percent compared to the same period in 2023 (yoy) which was valued at IDR 6.7 trillion.

"With the achievement of new contracts until May, we are increasingly optimistic that we can achieve the target in 2024," said Senior Vice President Corporate Secretary of PT PP Bakhtiyar Efendi as reported by ANTARA, Monday, June 10.

The acquisition of the contract value is dominated by projects with government sources of 53.02 percent, SOEs at 32.49 percent, and from private sources of funds at 14.49 percent.

The highest contract value is in the road and bridge sectors with a percentage of 55.06 percent, the building sector at 39.30 percent, ports at 3.84 percent, industry at 1.09 percent, oil and as at 0.53 percent and power plants at 0.18 percent.

The achievement of the company's contract value in May 2024 includes road improvement projects in KIPP, the capital Nusantara; West Residence area of IDR 732 billion, the Portsite Accomodation Complex Construction Freeport project of IDR 326 billion, and the acquisition of new contracts from subsidiaries of IDR 1.36 trillion.

Regarding projects in IKN, the company continues to increase its commitment to complete and support infrastructure development including projects in the State Capital (IKN).

Several projects in the IKN area were successfully completed by PT PP with 100 percent progress, namely the KIPP Phase 1 Preparation Project, the KIPP Phase 2 Preparation Project, the IKN Logistics Pier Project and the Phase 1 Phase 1 West Side National Aquaculture Road Project.

The progress of the State Palace Development Project and the Presidential Area Ceremony Field has reached 69.4 percent or exceeding 1.3 percent of the planned progress target.

Furthermore, the Presidential Office Building Project also showed positive progress with a progress realization of 89.9 percent or exceeding 0.7 percent of the planned target.

"The company continues to be committed to supporting the government to complete a number of national strategic projects, especially those that will soon function this year," said Bakhtiyar Efendi.