JAKARTA - PT PP (Persero) Tbk (PTPP) has bagged Rp 14.8 trillion in new contracts as of June 2019, 29.42% of the company’s target of Rp 50.3 trillion this year. The figure is lower than new contract realisation of Rp 17.60 trillion in the first semester of 2018.
According to PP Finance & Risk Management Director Agus Purbianto, tenders for government, SOE, and private projects in the first semester this year were considerably less compared to the same period last year due to the April general election. “Many business players chose to wait and see,” Mr Purbianto told Bisnis.com, Tuesday (16/7).
Nevertheless, Mr Purbianto added, the company will boost new contract realisation in the second semester, including through SOE synergies. He also asserted that PP will accelerate an investment programme with an infrastructure pipeline such as toll roads, dams, seaports, and airports.
“Our engineering, procurement, and construction (EPC) projects still mainly consist of power plants, tank storage, refineries, and smelters. For the time being, [we are] still optimistic that we can reach our 2019 new contract target,” Mr Purbianto concluded. (MS)