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Wika continues expanding business overseas
The Jakarta Post , Jakarta | Tue, 11/03/2009 9:36 AM | Business
Having brought home significant revenue from its toll-road projects in Algeria, state construction and infrastructure company PT Wijaya Karya (Wika) is seeking more overseas projects to boost its revenue, including a housing project in Libya.
“Apparently, our success in Algeria has been ‘echoing’ to the neighboring country, Libya,” Wika president director Bintang Perbowo told a media conference Monday, adding that Wika’s overseas business has contributed about 10 percent of the company’s total profits.
Bintang said he had met Libyan property businessmen and been offered the chance to build apartment towers in the North African country.
The highway construction project in Algeria is Wika’s first overseas project. It is participating in the East-West Motorway project as a subcontractor for the Cojaal consortium from Japan, which won the tender to build a 400-km stretch of the planned 1,200-km highway.
The company is optimistic that overseas projects will remain promising in the future.
As of September 2009, Wika booked Rp 132.62 billion in net profits, 56 percent higher than Rp 84.91 billion in the same period last year. Infrastructure projects contributed Rp 101 billion of the total profit.
Wika finance director Ganda Kusuma said that the company was targeting to gain Rp 175 billion ($18.3 million) in profits by the end of 2009.
Ganda said the company has secured new contracts with a value of Rp 8.2 trillion as of September.
“We are targeting to book Rp 9.394 trillion worth of new contracts until the end of the year,” he said.
Wika’s current domestic projects include the construction of a power plant in Bali with a project value of Rp 140 billion, dam construction in Jatibarang in Central Java (Rp 300 billion), an MEP (Mechanical Electrical Plumbing) project in Kualanamu in North Sumatra (Rp 262 billion), and a stadium in Pekanbaru in Riau (Rp 151 billion). (bbs)
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