REPUBLIKA.CO.ID, JAKARTA - State-owned construction company, PT Pembangunan Perumahan (PTPP), announced new contract worth 7.8 trillion IDR untill May 2013. This value grew 188 percent compared to the same period last year.

"We have already met 40 percent of the target or 19.7 trillion IDR," Corporate Secretary of PTPP, Betty Ariana said on Thursday.

PTPP is optimistic to achieve a net profit of 370 billion IDR or increase of 20 percent compared to net income in 2012. The company handled some projects in infrastructure including Krakatau Bandar Samudra port in Cilegon (Banten), Apartment of Nifaro, Terminal 3 of Soekarno-Hatta airport and and railway in South Sumatra. The company also handle a project from Timor Leste to build Gleno road worth 264 billion IDR.

In the end of 2013, PTPP will begin its own property construction of four hectares of land in Surabaya, (East Java) and 20 hectares in Jakarta. The project is targeted for upper middle class. 

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