JAKARTA - PT PP (Persero) Tbk (PTPP), one of state-owned construction enterprises, reported new contracts throughout 2023 of IDR 31.67 trillion as of December 2023.

According to the official disclosure by PTPP in Indonesia Stock Exchange (IDX) quoted today (8/1), the government’s projects still dominate new contracts by 42.79%. In the meantime, the new contracts commissioned by private entities and state-owned enterprises (SOEs) reach 37.2% and 20.01%.

Those new contracts were still also primarily led by roads and bridges of 34.64%, followed by building of 31.71%, railways of 11.22%, airports of 7.21%, ports of 4.81%, dams of 4.44%, industry of 3.44%, irrigation of 1.25%, power plants of 0.65%, as well as oil and gas of 0.63%.

From the latest update on new contracts of PTPP last November of IDR 30.2 trillion, PTPP secured additional IDR 926 billion of new contracts in December 2023 alone.

“The new projects secured by PTPP in December 2023 consist of Biak Fuel Terminal (Seaside) worth IDR 393 billion, Shiplift Port of Block A-B worth IDR 275 billion, and PON Hospital construction worth IDR 258 billion,” added the management in the official release.

The number of new contracts at the end of 2023 does not actually meet the company’s target announced during the 2023 Public Expose last December. In their explanation, the directors projected new contracts of IDR 34.5 trillion at the end of 2023. (ZH)