JAKARTA - PT PP (Persero) Tbk (PTPP), a state-owned enterprise engaged in the infrastructure construction, had secured new contracts worth approximately IDR 3.5 trillion in January 2024.

The new contract increases 99.96% from new contract realisation of PTPP in January last year. Most of the contracts are commissioned by the government, making up 90.50% of the contract. Another 7.76% is from SOEs, while the remaining 1.74% is from the private sector.

Bakhtiyar Efendi, Corporate Secretary of PTPP, said that the new contract secured by PTPP in January 2024 is a decent start for the company. Furthermore, the company remains on-track to wrap up several obtained projects.

“We focus to conclude national strategic projects and IKN that were piling up this year,” Efendi said in the official disclosure.

In terms of execution, most of the new contracts gained by PTPP in January 2024 came from roads and bridges, of 62.03%. Then, building sector generated 28.47% of the new contracts, followed by ports of 7.76% and other sectors of 1.74%.

The new contracts of PTPP in January 2024 consist of PUPR Office Wing 2, Section 6C road, Serang-Paninmbang Toll Road Section 3, and 3B Toll Road Phase 2. (KR/ZH)