Acset Indonusa Eyes Rp 3.4t in New Contracts With Shift to Public Works Projects
Jakarta. Acset Indonusa, a contractor under the Astra International conglomerate, is eyeing up to Rp 3.41 trillion ($250 million) in new contracts next year, up 10 percent from this year, on the back of anticipated government splurging on infrastructure.
The company booked Rp 3.1 trillion in new contracts through the third quarter of this year – a four-fold increase from the year before.
Lukas Iwan Setiadi, the Acset Indonusa finance director, said the company expected to see “a good mix of infrastructure, property and foundation projects next year.”
The contractor has earmarked Rp 100 billion to Rp 120 billion for capital expenditure next year – up a third from this year’s budget – to buy tools and equipment for its new projects, Lukas said.
The company, whose business is primarily the construction of private property, hopes to participate in more infrastructure projects as the government prioritizes public works spending as the spearhed of its national development agenda, according to Tan Tiam Seng Ronnie, the Acset Indonusa president director.
“The property market tends to go up and down. We’ve always had a plan to enter into infrastructure,” he said in Jakarta on Thursday.
Construction accounts for 80 percent of the company’s business at present, with foundation services making up 18 percent. Infrastructure makes up just 2 percent of its current contracts, which include building toll booths for the Mojokerto-Kertosono highway in East Java and the West Cilegon toll road in Banten.
Lukas said that one of the infrastructure projects Acset Indonusa was interested in was a power plant project by sister company Astratel Nusantara. He declined to elaborate.
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