DIGIVESTASI - Mining contractor PT Petrosea Tbk (PTRO) announced that it has won a major contract from BP Berau Ltd. on Thursday (January 2, 2024), worth IDR 4.6 trillion. PTRO Secretary General Anto Broto said, this type of contract is in the form of onshore engineering, procurement, and initial construction (EPC) for work belonging to two projects, Ubadari, Tangguh EGR /CCUS and Tangguh Onshore Compression (UCC).

The value of this contract reaches approximately Rp 4.6 trillion with an implementation period of 24 months, Anto said in an information disclosure on Friday (February 2, 2023). Anto also added that the completion of this contract is considered to have a positive impact on the company's performance. "This will have a positive impact on the company's business continuity and improve PTRO's operational and financial performance," Anto added. Meanwhile, neither PTRO nor BP Berau has an affiliate relationship. 

The signing of the contract was carried out in the context of a plan to buy back 342.9 million PTRO shares by PT Petrindo Jaya Kreasi Tbk (CUAN) with an estimated transaction value of Rp 940 billion. During the disclosure of information on the Indonesia Stock Exchange (IDX), CUAN management explained that CUAN would take over 342.9 million (342,925,700) shares or around 34% of the total issued and fully paid shares of PTRO.

The 342.9 million shares taken over were in the name of PT Caraka Reksa Optima. Meanwhile, Caraka is a company owned by the Robert Nitiyudo Wachjo or Haji Robert group. "The total transaction plan value is Rp 940 billion, to be explained further," said CUAN management in early January. CUAN explained that the deadline for fulfilling the purchase request is March 31, 2024 or the end of the first quarter of 2024. CUAN management explained that the transaction plan, which will be led by PT Kreasi Jasa Persada (KJP), is a long-term strategy.

KJP is a member of the CUAN Group with the aim of increasing the wealth of KJP and CUAN. This transaction plan is also expected to expand the business network and is part of CUAN Group's long-term business development plan to become an integrated mining and mining services company.

In addition, we expect the transaction plan to improve operational efficiency by integrating operations and strengthening KJP and CUAN's business portfolio in the fully operational coal, gold, nickel, gas and infrastructure mining sectors.

Management is working on a transaction plan that is expected to add value and positively support CUAN's overall performance and the achievement of CUAN's objectives which aim to create the best synergy that strengthens CUAN's position as one of the integrated mining companies. companies in Indonesia

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