Adhi Karya (ADHI) Wins New Contract of IDR 17.3 Trillion Per 12 September 2022

Published 15 September 2022 | 03:25 am

KONTAN.CO.ID - JAKARTA. PT Adhi Karya Tbk (ADHI) continues to add to the list of new project realizations this year. Until September 12, 2022, ADHI's new contract realization reached Rp 17.3 trillion.

A.A.G Agung Dharmawan Director of Finance and Risk Management ADHI said that the realization of ADHI's new contracts as of July 2022 was Rp. 15.9 trillion, and as of August 2022, it rose to Rp. 16.3 trillion.

Most recently, as of Friday, September 9, 2022 ADHI received a new contract of Rp1.1 trillion. So the total realization of ADHI's new contracts as of September 12, 2022 is IDR 17.3 trillion.

"As of July 2022, new contracts were obtained for IDR 15.9 trillion, this grew 103.8% compared to the same period last year which amounted to IDR 7.8 trillion," said Agung Dharmawan.

Just so you know, for ongoing projects as of July, at least ADHI has pocketed 174 projects that are being worked on.

Agung Dharmawan said that several projects were being worked on in July, including projects related to the IKN and the Solo-Yogyakarta toll road project.

The two largest projects that will be completed are the Sigi-Banda Aceh Toll Road, which is worth Rp. 8.2 trillion. and the Solo-Yogyakarta-Kulonprogo Toll Road worth Rp 7.8 trillion.

ADHI is also working on the MRT Jakarta P202 project worth 2.8 trillion, a follow-up project from the MRT Jakarta P201 project worth Rp 1.4 trillion.

Agung Dharmawan also supports infrastructure development from investment financing funds. According to him, ADHI also benefited indirectly from the transaction completed by the Indonesia Investment Authority (INA).

"INA has supported and successfully completed the transaction with Waskita partners, for INA we get indirect benefits by having an agreement with INA," said Agung Dharmawan.

Furthermore, Agung Dharmawan also stated that ADHI is currently also focusing on environmental-based business lines, such as urban and sector waste management. Currently ADHI's waste treatment business is in the Medan Industrial Estate (KIM).

Agung said ADHI received an injection of funds from the Civil National Capital (PNM) of Rp. 1.9 trillion.

"We will be supported by PNM in the amount of Rp. 1.9 trillion and a rights issue. We are still processing the PNM and waiting for the Presidential Decree to be signed by the President. PNM tends to be certain because it has been included in the 2022 State Budget Act," said Agung.

The distribution of the injection of funds from PNM amounting to Rp. 1.976 trillion, will be allocated to the development of the Solo-Yogya Toll road of Rp. 1.4 trillion, the participation of the Yogya-Bawen Toll road of Rp. 390 billion, and the investment of the Manyar Smelter of Rp. 185 billion.

Currently ADHI focuses on 4 business lines, namely engineering and construction which includes handling infrastructure, buildings, power plants, oil and gas, and railways. The second line of business is in the property and hospitality sector. While other business lines are in manufacturing, as well as investment and concessions.

Source: SOURCE