Dec 30, 2010

Adhi Karya seals Rp8.1 contracts in 2010

PT Adhi Karya Tbk (ADHI), a state-owned contractor, has secured Rp8.1 trillion new contract, enabling the company to meet its target this year.
Meanwhile, by next year, the contractor targets to achieve a contract growth by 20% of that in this year.
Corporate Secretary of Adhi Karya Kurnadi Gularso confirmed that the contract gains came from various projects, while last year’s carry over project had contributed Rp5.7 trillion.
The contractor won several large-scaled projects as an engineering, procurement, and construction project (EPC) of Balikpapan Steam Water plant with 2x100 MW capacity valued Rp2.3trillion, and Tanjung Selor, Kalimantan-based Steam Power Plant having 2x7 MW capacity with contract total of Rp268 billion.
Others were a construction of Education and Training Centre as well as State-Owned Athletics School in Hambalang-Sentul, West java with total contract value of Rp1 trillion. Adhi Karya is also awarded Rp900 billion contracts on building constrution.
In infrastructure sector, several large-scaled projects handled by Adhi Karya were constructions of Teluk Lamong Port by Rp401 billion, Terminal 3 apron of Soekarno-Hatta Airport with Rp156 billion contract value, and first stage of fly over with Kampung Melayu-Tanah Abang route: Sudirman-Casablanca route by Rp214 billion.

Disclosure: No position at the stock mentioned above.  

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