PP stands among the frontrunners in bids for three toll roads projects in South Sulawesi, East Java and East Kalimantan. (ID Photo/David Gita Roza)

PP Secures $450m New Contracts in Q1

BY :FERIAWAN HIDAYAT

MAY 12, 2016

Jakarta. State-controlled construction company PP has secured Rp 6 trillion ($450 million) worth of new contracts in the first three months this year, rising by a half from the same period last year, president director Tumiyana said on Thursday (12/05).

The company's property, precast concrete and construction tool units have contributed Rp 1.7 trillion to the new contracts.

Meanwhile, PP itself has secured Rp 4.3 trillion in infrastructure and building projects, including the new BNI Tower in South Jakarta from state-owned lender Bank Negara Indonesia and an apartment in Balikpapan, East Kalimantan, from state energy company Pertamina.

PP stands among the frontrunners in bids for three toll roads projects in South Sulawesi, East Java and East Kalimantan.

"We are now waiting for the announcement for of the winners," Tumiyana said.

The company targets to book Rp 31 trillion in new contracts this year.

With the additional new contracts in the first quarter, PP is currently working on projects worth Rp 45 trillion, Tumiyana added.

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