JAKARTA. PT PP (Persero) Tbk (PTPP) booked new contracts worth IDR 24.4 trillion until October 2024, equal to 76.25% of 2024 new contract target.

According to IDNFinancias record, PTPP aims to secure new contracts worth IDR 32 trillion this year. Last August, when new contracts were still recorded at IDR 17.4 trillion, the management of PTPP claimed to remain optimistic in attaining the new contract target.

The projects commissioned by the government were still the biggest contributor to PTPP’s new contracts until October 2024, covering 41.24%. Then, contracts from state-owned enterprises (SOEs) made up 30.76% of total new contracts, while the private sector commissioned another 28%.

Road and bridges also remain as primary component of total new contracts, making up 34.87% of total handled projects. Building projects follow closely with 30.09%, mining projects of 18.36%, industry of 10.28%, ports 4.52%, airport 1.06%, whereas the remainder came from various sectors.

Meanwhile, total revenue generated by PTPP until September 2024 was reported at IDR 17 trillion, up 14.54% year-on-year (yoy), while the net profit also increased 11.49% yoy to IDR 267.28 billion. (KR/ZH)