WIKA secures new contracts worth Rp13.32 trillion

Jakarta (ANTARA News) - State construction firm PT Wijaya Karya Tbk (WIKA) has signed new contracts for the construction of various projects worth Rp13.32 trillion until early March 2017.

The contracts accounted for 30.80 percent of the target for the whole year at Rp43.24 trillion, WIKA Finance Director Kosasih said here on Thursday.

"The target of new contracts for 2017 represents a 47.5 percent increase compared to the previous year," he stated.

To finance the projects, the company is in the process of applying for a syndicated loan of Rp5 trillion, which will be repaid in three years with competitive interest, he noted.

In addition, the company will also issue bonds worth Rp5 trillion to Rp10 trillion, with a maturity period of 5 to 10 years.

"WIKA has secured good rating from international rating agencies. Our rating is far better than those of similar companies," he remarked.

He pointed out that WIKA had just won a tender for the construction of Cengkareng-Batu Ceper- Kunciran toll road.

The company won the tender for the project worth Rp2.172 trillion after it passed a series of evaluations including administrative, technical, and price qualifications, he underlined.

"We hope the project could be completed in 457 calendar days," he assured.

WIKA has set the target of net profit for 2017 Rp1.219 trillion, up 20.45 percent from Rp1.102 trillion a year earlier.(*)