S

tate-run construction firm PT Waskita Karya aims to secure Rp 30 trillion (US$2.1 billion) in contracts by the end of the year, up from the initial target of Rp 22 trillion, as it plans to acquire at least three toll road projects in the second half of this year.

'€œThe target is high as we will acquire the toll roads. The values of those toll roads is Rp 80 trillion,'€ said Waskita Karya president director M. Choliq, as quoted by kontan.co.id.

The company has secured thus far Rp 10.7 trillion in contracts and has acquired nine toll roads in the first half of this year, including a 35 percent stake in the Medan Kualanamu-Tebing Tinggi toll road project in North Sumatra and a 25 percent of stake in the Depok-Antasari toll road project connecting West Java to South Jakarta, among others.

The projects are expected to help the firm meet its target of operating 400 kilometers worth of toll roads by 2018.

Waskita Karya, which recently received Rp 3.5 trillion in state capital injection from the government, is eyeing Rp 15 trillion in revenues by the end of the year, a surge from its revenues last year of Rp 3.18 trillion. The firm has pocketed Rp 3.98 trillion in revenues in the first half of this year. '€”JP/fsu