P

ublicly listed coal, oil and gas contractor PT Perdana Karya Perkasa announced on Thursday that it recently won a contract worth Rp 190 billion (US$21.28 million) from oil firm Virginia Indonesia Company (Vico) to build gas pipelines.

“We will work on the pipelines to support the oil and gas activities of Vico in East Kalimantan. We will start the project in February and we expect to finish in 2014,” Perdana Karya Perkasa director of finance Untung Haryono said.

Untung said that Perdana Karya Perkasa was also in the process of bidding for other oil and gas drilling and exploration projects owned by Vica estimated to be worth Rp 200 billion.

The new project will help the company meet the company’s target of booking Rp 7.76 billion in net profit and Rp 522.58 billion in total revenue this year.

Perdana Karya Perkasa currently has three business units: construction, coal mining and heavy equipment for land clearing.

In the construction sector, Perdana Karya Perkasa is targeting to work on contracts worth Rp 416 billion this year, consisting of new contracts of Rp 285 billion and carry over contracts of Rp 131 billion. The total contracts are expected to generate revenue of Rp 379.04 billion.

In the coal mining sector, Untung said that Perdana Karya Perkasa would improve production of its mining site in Dondang, East Kalimantan, through cooperation with other mining contractors. The company is aiming to boost production in Dondang to 360,000 metric tons this year.

“We hope that Dondang will contribute Rp 86.4 billion in revenue this year, with a gross margin of Rp 25.2 billion,” Untung said.

In the heavy equipment rental business unit, the company is targeting to obtain land clearing projects worth Rp 65.7 billion, consisting of Rp 50 billion of new projects and Rp 15.7 billion of carry-over projects. The company is targeting to reap Rp 57.1 billion in revenue from the heavy equipment business.

Untung also said that the company would continue to study the possibility of acquiring a coal mine.