Adhi Karya Eyeing Rp5 Trillion Projects Of Pertamina

Jakarta, Aug 28 (ANTARA) - State construction company PT Adhi Karya Persero is eying a US$500 million engineering, procurement and construction (EPC) project of state oil and gas company PT Pertamina. Adhi Karya will team up with South Korea`s Hyundai in its bid to win the project in Senggoro , Riau, its president Kiswodarmawan said here on Monday. Adhi Karya will have a 30 percent stake in the joint venture with Hyundai to take 70 percent, Kiswodarmawan said. "We already submitted our proposal two or three months ago. The result of the tender is to be announced in the last quarter of this year," he said. In the first half of the year EPC business contributed around Rp180.52 billion or 12.1 percent to the company`s total income. Construction business remains the largest contributor accounting for Rp1.49 trillion or 84.14 percent of its income during the first six months of the year. The company recorded a 37.1 percent increase in net profit to Rp29.35 billion in the six months period compared to the same period last year. ADHI has continued to be focused on construction projects such as roads , including toll roads , port, airport and buildings, power plants , etc.