INSIDER HEADLINE: Adhi Secures IDR455 Bln New Construction Contracts in Jan-Feb -Report
March 13 (The Insider Stories) — State construction company Adhi Karya (ADHI) secured new construction contracts worth 455 billion rupiah ($47 million) between the start of January and the end of February, equivalent to 2.65% of the company’s total target for this year of IDR16.8 trillion, Investor Daily reported Wednesday.
The new contracts consist of construction of IDR150 billion worth of roads and bridges, construction of the Lor Inn hotel in Solo city in Central Java for IDR117 billion and a project to build a drinking-water facility in Banjarmasin, South Kalimantan, that will cost IDR40 billion.
Adhi corporate secretary Amrozi Hamidi told Investor Daily on Monday that he was optimistic the company can meet its target for new contracts.
Adhi this year has set a target to raise net profit by 114.56% to IDR454 billion from IDR211.59 billion last year. Revenue is expected to rise 74.31% to IDR13.3 trillion from last year‘s IDR7.63 trillion.
