State-owned construction company PT PP (PTPP) has secured Rp24.4 trillion (US$1.5 billion) in new contracts, achieving 76.31 percent of its year-end target.
A large portion of these contracts, 41.24 percent, comes from government-funded projects, followed by state-owned enterprises (SOEs) projects at 30.76 percent, and private sector projects at 28 percent.
The highest contract value contributions came from infrastructure projects, particularly in road and bridge construction, accounting for 34.87 percent of the total, followed by building construction at 30.09 percent, and mining projects at 18.36 percent.
Other sectors include industry (10.28 percent), ports (4.52 percent), airports (1.06 percent), and various other projects, including dams, oil and gas, irrigation, and power plants, at 0.83 percent.
In October 2024, PTPP won several major projects, including the Yogyakarta–Bawen Toll Road Section II (worth Rp1.53 trillion), Jetty Petrokimia Gresik (Rp761.5 billion) and a vertical housing project comprising four towers in Indonesia’s new capital Nusantara (Rp 325.08 billion).
By September 2024, PTPP’s revenue reached Rp14 trillion, with a net profit of Rp267.28 billion − a year-on-year increase, partly driven by joint venture profits of Rp799.3 billion, up 152 percent YoY.
