PT Adhi Karya Tbk (IDX: ADHI) targeting to raises new contracts Rp32.9 trillion (US$2.33 billion) in 2021, up 15 percent from this year' target - Photo: Special

JAKARTA (TheInsiderStories) – The state-owned construction company, PT Adhi Karya Tbk (IDX: ADHI) targeting to raises new contracts Rp32.9 trillion (US$2.33 billion) in 2021, up 15 percent from this year’ target, said the management on Tuesday (01/12). This optimism followed the government’ National Strategic Projects has been offered to the potential investors.

The marketing director, Agus Karianto, told the media, as of Nov. 25, the builder has pocketed a new contract worth of Rp18.6 trillion, or 67.64 percent of the 2020′ targets of Rp27.5 trillion. He said, toll projects on the Sumatra route, airport, port, inner-city and elevated toll roads are among the company targets.

Recently, Adhi Karya has signed a new contract for the construction of the Solo – Yogyakarta – Kulonprogo toll road with total costs of Rp7.8 trillion. This work is planned to be carried out for 730 calendar days from the issuance of the Work Order.

This toll road is part of the golden triangle of Central Java, namely Yogyakarta – Solo – Semarang and connected with the Solo – Semarang toll road and the Yogyakarta – Bawen toll road. Next targets is the Yogyakarta – Bawen toll road with an investment Rp2 trillion.

Beside the toll roads, ADHI will focus on the waste treatment, clean water treatment, and non-toll road preservation. Joined with other state-owned firm, PT Brantas Adipraya, the issuer has  formed a joint venture firm, of PT Jalintim Adhi Abipraya, to work on the preservation project for Jalan Lintas Timur Sumatra.

The project used a government cooperation scheme with an estimated costs Rp982 billion. According to data from the public works and public housing ministry, the project in Riau, is currently in the stage of basic design approval and the finalization of business documents.

In this joint venture, Adhi Karya holds a 60 percent stake while the remaining is owned by Brantas Abipraya. The authorized capital of this joint venture is set at Rp100 billion with a paid-up capital of 25 percent or equivalent to Rp25 billion.

The ministry noted the toll road project is divided into three sections. The first section covers the Simpang Kayu Intersection – Pelalawan Regency Boundary (3.6 kilometers). Then, the second section Pelalawan Limit – Sikijang Mati (9.10 kilometers) and the third section Sikijang Mati – Lago Intersection with a total length of 43 kilometers.

Previously, the Indonesian Toll Road Regulatory Agency had ordered a consortium of toll road operators under the coordination of PT Hutama Karya to develop toll road projects in North Sumatra. This project is worth Rp13.4 trillion. The Company together with PT Jasa Marga Tbk (IDX: JSMR) and PT Waskita Toll Road have formed PT Hutama Marga Waskita to run the project.

The project includes the construction of the Kuala Tanjung – Tebing Tinggi – Parapat toll road, in Medan, North Sumatra with a total cost of Rp9.6 trillion and is targeted to operate in 2020 with a concession period of 40 years. Then, the 143.5 kilometer (km) toll road project is a continuation of the Medan – Kualanamu – Tebing Tinggi toll road with a length of 61.72 km.

The project consists of six sections, namely Tebing Tinggi – Inderapura (20.4 km), Inderapura – Kuala Tanjung (15.6 km), Tebing Tinggi – Serbelawan (30 km). Then, Pemelawan – Pematang Siantar (28 km), Pematang Siantar – Seribudolok (22.3 km), and  Seribudolok – Parapat (16.7 km).

US$1: Rp14,100

Written by Editorial Staff, Email: theinsiderstories@gmail.com