State construction company PT Adhi Karya expects to post a 65% increase in its net profit next year as the company will sign more projects, president director Saiful Iman said Wednesday (8/11/06).
Adhi Karya's net profit is likely to reach Rp150 billion ($16.48 million) next year compared to an expected Rp91 billion this year “as we have more (projects)", Iman said, according to Reuters.
Revenue is expected to jump to Rp6.04 trillion in 2007 from Rp4.15 trillion this year, as it will construct the $224 million monorail project in Jakarta and a $215 million power plant project for state electricity firm, PT PLN.
Funding for the power plant project will come from its owner, PT Indonesia Power, while for the monorail, it will come from a consortium led by the Dubai Islamic Bank.
He said the total cost of the monorail project is $650 million, $224 million of which is for the construction of the rail by Adhi Karya and the rest will be used to acquire carriages. "We expect to get the funds by December and in October next year the project could come into operation," Iman said.