Together With China CAMC Engineering, Duo Karya SOE To Build Jenelata Dam In Gowa Regency Worth IDR 4.15 Trillion

JAKARTA - PT Adhi Karya (Persero) Tbk (ADHI) and PT Wijaya Karya (Persero) Tbk (WIKA) have officially become contractors for the construction of the Jenelata Dam in Gowa Regency, South Sulawesi. In the process, the BUMN Karya duo will cooperate with China CAMC Engineering Co., Ltd.

According to Adhi Karya Corporate Secretary Farid Budiyanto, his party has a 22.15 percent share in the project with a value of IDR 4.15 trillion. "This contract is one of the tracks that the company made in June 2022," Farid said in his statement, quoted on Friday, July 1.

As of May 2022, Adhi Karya has realized the acquisition of new contracts of IDR 9.9 trillion. This number increased by 98 percent compared to the contract acquisition in May 2021 which amounted to IDR 5 trillion.

Several new contracts obtained by Adhi Karya in May 2022 include the Yogyakarta – Bawen Toll Road Section 6, and the construction of the Cibitung Witness and Victim Protection Agency (LPSK). Contributions per business line to the acquisition of new contracts until May 2022, covering the Construction business line by 86 percent, Property by 6 percent, and the rest are other business lines.

In addition to business lines, this contract also covers various types of work, consisting of 58 percent of road and bridge projects, 9 percent of buildings, other infrastructure projects such as dock construction, railways, water resources and energy projects, and other projects of 33 percent.

Meanwhile, based on the segmentation of funding sources, the realization of new contracts sourced from the Government is 18 percent, sources from State-owned Enterprises (BUMN) and Regional-owned Enterprises (BUMD) are 6 percent, while private/other ownership projects including investment projects are 76 percent. This increase in new contracts is expected to contribute positively to revenue in 2022.