JAKARTA. The raw material and fuel prices surge has forced PT Adhi Karya (Persero) Tbk (ADHI) to carefully reappraise some of its project contracts.
Farid Budiyanto, Corporate Secretary of Adhi Karya, claimed that the increased fuel price will drive the prices of raw materials for precast and industrial diesel upwards, thus affecting the general performance, particularly the cost of goods sold.
Budiyanto further stated, as quoted in Bisnis yesterday (6/9), that in order to navigate this price surge, ADHI, along with other construction industry players through the association of constructors, has issued a change in the material base price.
Until July 2022, ADHI had realised new contracts of IDR 15.9 trillion, proliferating 104% year-on-year (yoy) from IDR 7.8 trillion reported in July 2021. Said contracts were mostly obtained from private sectors. (AM/ZH)