State-owned construction and investment company PT Pembangunan Perumahan (PP) is set to undertake a significant energy sector project valued at approximately Rp2 trillion (US$123.4 million).
“We have a project in the tender process, and we’re awaiting the decision on the winner. The project is in the energy sector,” PP CEO, Novel Arsyad, said as quoted by Katadata.co.id on Thursday, July 11, 2024.
While Novel refrained from revealing details about the major project, he expressed confidence in the company’s strong prospects for securing it.
He said that the project decision is expected by mid or late July 2024, coinciding with an official announcement from PT PP. “Let’s hope for the best,” he added, noting that several other projects are also in the tender phase.
This news comes as the first half of the year concludes, with the state-owned construction company planning new projects in the second half. A source from Katadata.co.id indicated that the project announcement will follow the final tender decision.
Currently, PT PP is focused on maintaining financial health and executing assignments entrusted to the company, including significant projects like the Nusantara Capital City (IKN) development.
In the first half of 2024, PT PP secured new contracts worth Rp9.65 trillion. Corporate Secretary Joko Raharjo noted a significant quarterly increase in new contracts.
“There was an almost 102 percent increase from the first to the second quarter,” Joko said in Jakarta on Wednesday, July 10. The first quarter saw approximately Rp4 trillion in new contracts, while the second quarter brought the total to Rp9.65 trillion.
