Wijaya Karya to Secure New Contracts Worth Rp14tn: Analyst

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  • TEMPO.CO, Jakarta-NH Korindo Securities head of research Reza Priyambada said that PT Wijaya Karya Tbk (WIKA) will secure new contract worth Rp14 trillion end June 2016. The amount is equal to 26.8 percent of total target being set this year of Rp52.2 trillion.

    Indeed, WIKA is currently participating in some tenders wherein the lowest bid was Rp3.75 trillion. “Including contracts of Manado-Bitung and Balikpapan-Samarinda toll roads, in which they will secure Rp14 trillion until end June,” Reza Priyambada said in a written release on Monday, June 20, 2016.

    As of mid-June, WIKA has won new contracts worth Rp10.25 trillion. The latest projects secured by the company, among others, are constructions of apartment, building in Manado, oil & gas project in Tanjung Sekong and in Muara Karang.

    Recently, WIKA and an SOE consortium have won the concession of 39.9-kilometer long Manado-Bitung toll road. Also 99.35-kilometer long Balikpapan-Samarinda toll road.

    The total investment of the two toll roads reaches Rp26.5 trillion. WIKA gets 15 percent portion of Balikpapan-Samarinda toll road and 20 percent of Manado-Bitung toll road.