PP signs property contract with Bin Laden Company

Nani Afrida, The Jakarta Post, Jakarta | Sun, 01/31/2010 5:57 PM

State construction company PT Pembangunan Perumahan (PP) has secured Rp 16.2 trillion ($1.8 billion) worth of contracts this year, including two with the Binladen Group construction conglomerate and holding company in the Middle East.

On Sunday, PP said in a statement that the two contracts from Binladen Group (SBG) were worth Rp 500 billion, but did not provide further details.

“We will also get additional work from the company worth Rp 1 trillion,” PP director Musyanif said.

PP’s domestic projects include the development of Hasanuddin University in South Sulawesi, a project worth Rp 450 billion.

Rp 3.6 trillion worth of the contracts for 2010 were carried over from 2009, he said.

Last year the company signed Rp 12.6 trillion worth of new contracts, twice the amount it had signed in 2008.