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E. Kalimantan power project goes to Wika
A consortium comprising publicly listed engineering and construction companies PT Wijaya Karya (Wika), PT Mega Eltra and PT Navigat, announced on Thursday that it secured a contract from state-electricity company PT PLN to build gas-powered power plants in East Kalimantan
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consortium comprising publicly listed engineering and construction companies PT Wijaya Karya (Wika), PT Mega Eltra and PT Navigat, announced on Thursday that it secured a contract from state-electricity company PT PLN to build gas-powered power plants in East Kalimantan.
According to documents Wika submitted to the Indonesia Stock Exchange (IDX), the contract to a build 2x(50-60) MW power plant was worth Rp 925.44 billion (US$103 million).
“Wika will hold 46 percent of the total contract, or equal to Rp 425.7 billion. Mega Eltra holds 39 percent and Navigat, 15 percent,” Wika corporate secretary Natal Argawan Pardede said, according to the documents.
The project is financed by the state budget and will be built in Tanjung Batu village in Kutai Kartanegara, East Kalimantan before September 2013.
“The first unit of the power plants is estimated to start operation in June 2013 while the second unit will start in August 2013,” Natal said.
The power plants will use high-speed diesel fuel to generate 140 MW to meet power needs, particularly in East Kalimantan.
Wika will build the gas turbine generator, stack and silencer, balance of plant, fuel system, water treatment plant, waste water treatment plant, power transformer and substation 150 kV, LV and MV panels.
Meanwhile, Mega Eltra and Navigat supervise the procurement of heavy mwill achinery, namely 70 MW heavy-duty dual-fuel turbines from General Electric to be assembled in France.
The project will help Wika to meet a target of obtaining Rp 16.52 trillion in new contracts in 2012 while working on 15.57 trillion in carry-over contracts.
Wika wants to book Rp 32.09 trillion in new and carry-over contracts in 2012, which would be a 22 percent increase over Rp 26.59 trillion last year, and which would boost net profits to Rp 430.68 billion, or 23 percent more than estimated 2011 net profits of Rp 350 billion.
49 percent of the contracts it recorded in the first nine months of 2011 were from the government, 32.5 percent from state firms and 18.4 percent from private firms. (rcf)
