JAKARTA: State-controlled construction firm PT Adhi Karya Tbk is eyeing IDR2.7 trillion from new contract from engineering service, procurement and construction (EPC) projects in 2012.
The company will be more focused on EPC projects for power plant and oil and gas exploration, said Operational Director Sumadiono.
“We will be more selective next year, thus 2012 EPC projects’ target is lower than this year,” he said yesterday.
Contract for EPC projects in 2011 are expected to reach IDR4.6 trillion. Up to November, the company has netted IDR3.8 trillion.
Some of Adhi’s major EPC projects this year include the residual fluid catalytic cracker project from PT Pertamina (Persero) in Cilacap worth US$847 million and central processing plant in Blora.
President Director Kiswodarmawan said that total contract for next year is expected to hit at IDR13.3 trillion, 6.4% higher than this year target at IDR12.5 trillion.
Contracts being carried over to 2012 are estimated to reach IDR11.5 trillion, of which IDR6.44 trillion will come from construction, IDR5.92 trillion from EPC, IDR35 billion from property and IDR5 billion from real estate.
Revenue is projected to reach IDR9.42 trillion in 2012, 34.5% higher than this year target of IDR7 trillion.
“Net profit is projected at IDR204.65 billion, higher than IDR183.37 billion targeted for this year,” he added.
Adhi Karya is planning to construct a 100-storeys tower as the new symbol of Jakarta starting in mid-2012, estimated to cost around IDR2 trillion.
To finance the project, the company is planning to conduct rights issue in the second half of 2012 and proposing a share subscription option to the government.
Adhi Karya targets 2.7 triliun rupiah from EPC contracts next year – Bisnis.com.
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