Astra eyes more infrastructure projects in Java

The director of publicly listed PT Astra International, Paulus Bambang Widjanarko, has said that the company will strive to win tenders for infrastructure projects this year.

“We were awarded a construction project tender for the Mojokerto-Kertasono toll road in 2011. Last year we didn’t get any projects. This year we aim to get more projects,” Paulus told reporters in Jakarta on Thursday.

He said Astra International would focus on winning tenders for infrastructure projects in Java.

He said the company had reserved Rp 13 trillion (US$977.48 million) in capital expenditure (capex) for this year, lower than the Rp 20 trillion last year.

Paulus said Astra International’s infrastructure, IT, logistics divisions currently had a capex of Rp 4 trillion that it would use for the development of sections 2 and 3 of the Trans-Java Mojokerto-Kertasono toll road, as well as other projects such as the Tangerang-Merak toll road construction, the logistics business in Surabaya, East Java, and its new IT businesses.

Paulus said he was optimistic over the company’s future business growth, adding that he saw the business more in a long-term perspective than from quarter to quarter.

Astra recorded a 9.3 percent slump in net revenues to Rp 45.19 trillion in the first quarter of this year from Rp 49.82 trillion in the same period last year, while the company’s net profits plunged by 15.6 percent to Rp 3.99 trillion in January to March this year from Rp 4.73 trillion in the same period last year.