A subsidiary of Indonesian-listed vehicle manufacturer PT Harapan Duta Pertiwi Tbk (HOPE) has secured two new contracts related to nickel mining projects.
HOPE President Director Kevin Jong revealed that the two contracts were obtained through a joint operation scheme with domestic companies. "Our subsidiary has secured two new contracts related to nickel mining projects," Kevin said on Thursday (20 August 2026). The contracts are expected to generate approximately US $14 million in additional revenue. HOPE management anticipates that, assuming the contracts proceed as planned, this contribution will serve as a positive catalyst for the Company's revenue and operational performance throughout 2026.
The contracts take effect in 2026 and have the potential to be renewed annually, provided performance remains satisfactory. The new contracts provide a fresh boost for HOPE, particularly amid growing nickel mining activity in Indonesia. If project execution runs optimally, the new contracts are expected to strengthen recurring revenue and enhance the Company's growth visibility going forward. Previously, HOPE partnered with Beijing Blue Horizon Intelligent Equipment Co., Ltd., a Chinese high-technology company specialising in mining equipment and marine engineering, to enter the heavy mining equipment business.
"The Company will explore the development of the heavy mining equipment business in Indonesia, ranging from distribution, technology transfer, local assembly facility development, to the potential establishment of a joint venture," Kevin said. He added that this strategic partnership could pave the way for further corporate actions by HOPE. One aspect attracting market attention is discussions regarding the utilisation of HOPE's public company status to support business expansion financing.
In 2026, HOPE also announced a major expansion move through the planned acquisition of PT Tambang Meranti Mulia Sejahtera (TMMS). To fund this corporate action, HOPE will conduct a rights issue valued at approximately Rp266.29 billion, issuing around 2.13 billion new shares at Rp125 per share. The proceeds will be used to increase HOPE's ownership in TMMS from 21.57% to 99%, making the company a full controlling shareholder. The total transaction value of the acquisition is estimated to be in the range of Rp257 billion to Rp317 billion.
