JAKARTA - Contractor PT Acset Indonusa Tbk (ACST) will seek tenders in two areas of construction moving through the remainder of 2016; the first are projects engaged in foundation and structure for buildings, the second type is large infrastrucutre projects such as toll roads.
To tackle larger projects, Acset successfully issued new shares via rights issue doubling its equity to Rp1.27 trillion. “We have the largest equity among private contractors,” Vice President Director Jeffrey G. Chandrawijaya said at Investor Institution Day in Jakarta.
But even with support from parent entity Astra Group’s PT United Tractors Tbk (UNTR), Acset’s capital strength is only a small portion of State Owned construction firms. This is why Acset has actively sought out partners to tackle larger projects.
Acset partnered up with Chinese firm CCEED to build Indonesia 1, with 45% interest. “By doing joint operations, we can enlarge our capital strength when entering infrastructure projects. And the second is to strengthen our capability,” Chandrawijaya added.
In late 2015, Indonesian President Jokowi inagurated ground breaking for Indonesia 1, said to be two of Jakarta’s tallest skyscrapers, yielding a total contract value of Rp4.03 trillion. Indonesia 1 is currently undergoing its foundation phase.
Meanwhile, Acset may be one of the candidates for construction of the Serpong - Balaraja toll road project, something management will actively pursue to win the bid. (CH)