JAKARTA – PT Lion Metal Works Tbk (LION) signs the first addendum of the electric cable supply contract worth IDR 156.50 billion with the Refinery Development Master Plan (RDMP) Balikpapan JO. The cable provision agreement had been initially finalised earlier this month (6/8).
Lawer Supendi, Director of Lion Metal Works, reveals that based on this first contract extension signed by two companies, the contract value diminishes from IDR 186.8 billion to IDR 156.50 billion. “The attainment of this contract would provide a positive result to the company’s revenue,” he states in the information disclosure, quoted Tuesday (24/8).
RDMP Balikpapan Joint Operation (JO) is an oil refinery established by Hyundai Engineering & Construction Co Ltd, SK Engineering Co Ltd, PT Rekayasa Industri, and PT Pembangunan Perumahan (Persero) Tbk (PTPP). The products offered by LION until July 31, 2023, include electrical cable trays and accessories of a 2nd MTO.
As of March 2021, LION has collected IDR 67.49 billion in sales, reduced from the number reported last year of IDR 78.63 billion. The primary contributors are office equipment sales of IDR 48.31 billion and building materials of IDR 19.18 billion. (LK/ZH)