Gold and Gemstone Mining, Inc. Sets sail with New Government contracts and Building Construction of 2 new Resorts in the Mentawai Islands
Gold and Gemstone Mining, Inc. (OTC Markets: GGSM) has announced new government contracts and increased operations for its Cargo Boat Murni in Sumatra, capable of transporting over 200 tons of construction materials. The Indonesian construction sector is projected to grow at 7-8% per year, with an estimated IDR 157.47 trillion (USD 10.97 billion) in construction value for 2022. The company aims to haul materials for the Seven Palms and Nasara Resorts, capitalizing on the growing demand for building in the region.
- New government contracts announced, indicating potential revenue growth.
- Cargo Boat Murni increases operational capacity, capable of hauling significant materials.
- The Indonesian construction sector is growing at 7-8% annually, suggesting a favorable environment for business.
- Projected construction value estimated at IDR 157.47 trillion (USD 10.97 billion) for 2022.
- None.
JAKARTA, Indonesia, May 18, 2022 /PRNewswire/ -- Gold and Gemstone Mining, Inc. (OTC Markets: GGSM) is pleased to announce new Government Contracts and increased operations from its Cargo Boat Murni. Cargo Boat Murni is located in Sumatra in the Padang Harbor, and has the capacity to haul over 200 tons of Construction building materials for Resorts and Government Contracts between Sumatra, Nias, and Telos islands. Cargo Boat transports is a growing business because building and land development are expected to grow. Indonesia's construction sector is growing at 7
Rudi Khelces as CEO and CFO of the Company stated its Cargo Boat Murni will haul equipment and materials to build its Seven Palms Resort, and Nasara Resort in the Mentawai islands. And, its Charter Boat Business is starting to experience tremendous work orders from resorts and Government Contracts as Indonesia opens the archipelago to accommodate the onslaught of tourism and economic growth in Indonesia.
Construction value for building projects is estimated to reach IDR 157.47 trillion (USD 10.97 billion) in 2022, driven by growth in the housing and industrial sectors. Trends in other categories, such as hotel, retail, and office, continue to show growth compared to 2021, which may boost the construction market in the coming years.
Indonesia is the second most productive and profitable construction market in Asia, where many construction projects are underway in residential and non-residential sectors. There is a massive demand for residential properties, and the property sector is growing in major cities across the country. Public works investment is crucial in the government's plan to provide water resources, roads, and human settlement infrastructure for long-term development.
Corporate Address
Slipi Tower
Jalan S. Parman Kav. 22-24
Jakarta, Indonesia (Lantai 5 PriOffice)
Kota Jakarta Barat, Indonesia 11480
The Company will announce key information to investors using Facebook and Twitter social media in compliance with Regulation FD
ABOUT GGSM CORPORATION
GGSM is a publicly-traded company engaged in the charter boat business in the Mentawai Islands and Beyond. The Kuda Laut's charter vessel is a Mentawai Surf Charter vessel to the World-Famous Mentawai Islands. The Kuda Laut has been chartering to the Mentawai, Telos, Nias, and Banyak Islands for over 25 seasons. From the Lagundri Bay in Nias, the Hinakos, the Bay of Plenty in the Banyaks, the Telos long rights, and the famous waves in the Mentawai, such as Rifles. No Kandui, Ebay, etc., in the Playground, to telescopes, Bintang, Lances Right.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our Company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the Company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
For More Information, visit https://ggsmglobal.com
Gold and Gemstone Mining, Inc., Investor Relations
Website: https://ggsmglobal.com
Email: ir@ggsmglobal.com
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SOURCE Gold and Gemstone Mining, Inc.
FAQ
What new government contracts has GGSM announced?
How does the growth of Indonesia's construction sector impact GGSM?
What capacity does Cargo Boat Murni have for transporting construction materials?
What are the expected construction values for Indonesia in 2022?
Which new resorts is GGSM involved in building?
