JAKARTA – PT Lion Metal Works Tbk (LION) secures an upgrade of a working contract to IDR 158.32 billion from RDMP Balikpapan JO. The contract was initially worth IDR 156.50 billion.
Lawer Supendi, Director of Lion Metal Works, confirms that the revised contract had been finalised earlier this week (14/9). It is regarding the supply of electrical cable trays and accessories of the 2nd MTO. “There are no affiliations between the company and RDMP Balikpapan JO,” he reaffirms, as quoted Friday (17/9).
The working contract period is set gradually until July 31, 2021. Clearly, obtaining this contract would bring positive impacts on LION’s revenue.
For the record, 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). (LK/ZH)