Adhi Karya secures Rp 9t of contracts

Nani Afrida, The Jakarta Post, Jakarta | Wed, 01/06/2010 8:02 PM

State construction firm PT Adhi Karya has secured Rp 9.06 trillion (US$978.4 million) of infrastructure contracts this year, excluding the contracts gained in 2009 that will still be carried over to 2010.

“The contracts may amount to more than Rp 9.06 trillion since we are still calculating what is left from the 2009 budget to be carried over this year,” Adhi Karya corporate secretary Kurnadi Gularso told journalists at the office of the State SOE Ministry in Jakarta on Wednesday.

Last year the company secured Rp 14 trillion worth of contracts, including from the 2008 budget.

Just like previous years, the government has dominated AK’s contracts. However, Kurnadi revealed that this year the private sectors proportion had increased by 5 percent compared to the previous year.

“This year, Adhi Karya’s contracts are about 75 percent from the government, while 25 percent is private,” Kurnadi said, adding that last year the company got 80 percent of contracts from the government.

The company is targeting to net about Rp 8.6 trillion in revenue this year and Rp 694 billion in gross profits. Last year the company estimated to gain Rp 7.52 trillion in revenue and Rp 463 billion in gross profits.