JAKARTA - PT Xolare RCR Energy Tbk (SOLA) has obtained a asphalt chip sealing project contract in West Kutai worth IDR 416.97 billion from PT Trubaindo Coal Mining (TCM).

Mochamad Bhadaiwi, President Director of SOLA, mentioned that the chipseal road project was obtained through its subsidiary, PT Aplikasi Bitumen Indonesia (ABI), partnering with PT Asta Rekayasa Unggul (ARU), last week (17/1).

“The project will span 50.5 km on a hauling road in Melak, West Kutai, East Kalimantan,” Bhaidawi mentioned, as quoted Monday (20/1).

For the record, ABI has 40% stake worth IDR 166.78 billion in this joint operation with ARU.

According to Bhaidawi, the contract will boost the company’s revenue.

In Q3 2024, SOLA booked revenue of IDR 72.05 billion, with contributors consisting of asphalt of IDR 27.76 billion and construction of IDR 44.29 billion.

In the same period in 2023, SOLA’s revenue reached IDR 46.51 billion, with asphalt bringing in IDR 43.74 billion and construction of IDR 2.78 billion. (LK/ZH)