Thursday, 19 September 2019

Waskita Karya Bags Rp2.3tn Payment for Palembang LRT Project

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Petir Garda Bhwana

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  • TEMPO.CO, Jakarta - Construction company Waskita Karya (IDX: WSKT) has received Rp2.3 trillion payment to work on the light rail transit or LRT project in South Sumatra. The company will also receive Rp600 billion more for the project.

    Waskita Karya finance director Haris Gunawan told Bisnis that the company will receive a total of Rp2.9 trillion for the job. The remaining Rp600 billion is being processed.

    "According to the plan, the Rp600 billion will be paid in September 2019," he said. 

    WSKT will also receive payments for other turnkey projects, including the Trans-Sumatra Toll owned by Hutama Karya. The project is targeted for completion at the end of August 2019.

    "Once [the project is] completed, Hutama Karya will pay Rp12 trillion to Rp13trillion in November or December," he said recently. 

    Waskita Karya will also get paid for the Jakarta-Cikampek II Elevated Toll project. The company estimates the Rp4.5 trillion will be paid in December this year.

    Waskita Karya's income from turnkey projects this year is between Rp26 trillion and Rp30 trillion.

    BISNIS