JAKARTA. PT Lion Metal Works Tbk (LION) has secured a contract worth IDR 89.62 billion for the Balikpapan Refinery Development Master Plan (RDMP).
Lawer Supendi, Director of LION, revealed that said contract covers the procurement of electrical cable tray and its accessories. “The terms of the contract will be gradually met until July 31, 2023,” Supendi mentioned in the official disclosure.
For the record, this Balikpapan RDMP project is listed as one of national strategic projects. The parties that are involved in this joint project include PT Pertamina (Persero), PT Pembangunan Perumahan (Persero) Tbk (PTPP), Hyundai Engineering Co. Ltd., and SK Engineering & Construction Co. Ltd.
“The contract fulfilment throughout the effective period will generate positive material impacts on the company’s financial performance,” Supendi added.
Until June 30, 2022, LION reported having cash and cash equivalents of IDR 59.29 billion. The company’s total assets and equity clocked up to IDR 699.5 billion and IDR 456.32 billion. (KR/ZH)