JAKARTA - PT PP Tbk (PTPP) new contract earnings throughout 2019 reached Rp 33.5 trillion. This figure is below the estimated new contract earnings of Rp 42 trillion - Rp 43 trillion.
Initially, PTPP set new contract earnings target of Rp 50.3 trillion and in October 2019 revised it to Rp 45 trillion. "Many projects have been postponed, such as dams, EPC (engineering, procurement, and construction), and others," said PT PP Finance Director Agus Purbianto as quoted from Bisnis.
For information, PTPP has obtained an EPC contract amounting to Rp 3 trillion in January. PTPP is aiming for a new contract earnings of Rp 40.5 trillion this year.
To support business expansion this year, PTPP has prepared a capital expenditure of Rp 8 trillion - Rp 10 trillion. This capital expenditure will be absorbed for the toll road, clean water and renewable energy sectors. (LM)