PT Waskita Karya Tbk (IDX: WSKT) enter new business by built steel plant in Cikande Modern Industrial Zones, Serang, Banten - Photo by the Company

JAKARTA (TheInsiderStories) – Indonesian construction firm, PT Waskita Karya Tbk (IDX: WSKT) enter new business by built steel plant in Cikande Modern Industrial Zones, Serang, Banten to support the various infrastructure projects undertaken by the company, said the spokeswoman yesterday (11/21). The new factory is expected to be operate next month.

In the early stages of production, the new plant built by its unit, PT Waskita Karya Infrastructure, was carried out to meet the needs of a 500 Kilo Volt Ampere (KVA) transmission project in Sumatra with total tower production reaching 4,000 tons per month. The state-owned company’ official, Shastia Hadiarti, said that the steel plant has a total investment of Rp230 billion (US$16.43 million).

While, other state-owned construction heavy equipment provider, PT PP Presisi Tbk (IDX:PPRE) targeting a new contracts Rp7.54 trillion in 2020 supported by nickel mining project and other infrastructure buildings. The amount rises 30 percent compares to this year’ target around Rp5.8 trillion.

According the director finance, Benny Pidakso, its parent company, PT PP Tbk (IDX: PTPP) will become the main contractor of nickel project, while the company will be the sub contractor on the infrastructure project, road building and other projects.

He revealed, PP Presisi has been working on the same project in Kolaka in Southeast Sulawesi and also pitching some projects in Southeast Sulawesi and Central Sulawesi. Beside entering nickel project, the contractor also develop toll road projects.

One of them is the Probolinggo – Banyuwangi toll road project section, part of Trans Java Toll Road. The projects is expected to contribute 2020′ contract target.

Until the third quarter of 2019, the unit of PTPP has booked contract of Rp2.9 trillion. To reached this year’ target, he said, there are several projects need to be finisihing until the end this year, such as Bener Canal in Central Java and Way Apu Canal in Maluku.

Then, the construction of PT Inti Pancar Dinamika’ coal haul roads that partneted with PT Trada Alam Mineral Tbk (IDX:TRAM) and Adaro group. The investment for the project is around $160 million.

The company also works the feeding project from PTPP, like Semarang – Demak toll road project, North Sulawesi steam power plant project, Timor steam power plant project and smelter project in West Kalimantan.

“We are also waiting for the auction announcement of Kediri’ airport,” said the director by adding the airport project will be handled by its unit, PT Lancarjaya Mandiri Abadi with total investment around Rp1 trillion.

PP Presisi was established on May 26, 2004. The company is a construction services provider including civil and building construction with six main business lines civil works, ready mix, foundation work, erector, formwork, and heavy equipment rental.

US$1: Rp14,000

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