JAKARTA. PT PP (Persero) Tbk (PTPP), a state-owned construction and investment company, has secured new contracts worth IDR 8.9 trillion since the beginning of this year until May 2024 (5M).

Said number increases 31.35% year-on-year (yoy) compared to the same period last year. In 5M 2023, PTPP’s new contracts were reported reaching IDR 6.7 trillion.

The primary contributor of PTPP’s new contracts throughout the first five months of 2024 is state-funded projects, reaching 53.02% of new contracts. Then, projects commissioned by state-owned enterprises contributed 32.49% of new contracts, followed by private projects of 14.49%.

The biggest component of new contracts is road and bridge sector, with percentage of 55.06%. It is then followed by building sector with 39.30%, port 3.84%, industry 1.09%, oil and gas 0.53%, and power plants 0.18%.

“With these new contracts as of this May, we become more optimistic in reaching the 2024 target,” said Bakhtiyar Effendi, Senior Vice President Corporate Secretary of PTPP, in the official statement.

For the record, PTPP also contributed in several infrastructure construction projects in Nusantara Capital City (IKN). Several IKN projects that have been completed by the company include the Preparation of Government Central Core Area (lit. Kawasan Inti Pusat Pemerintahan/KIPP) Phase I, Preparation of KIPP Phase II, IKN Logistics Port Project, and West Side of Sumbu Kebangsaan Road Phase I. (KR/ZH)