WIKA Records A New Contract Of IDR 8.86 Trillion Until May 2024

JAKARTA - PT Wijaya Karya (Persero) Tbk (WIKA) won a new contract worth IDR 8.86 trillion until May 2024.

WIKA President Director Agung Budi Waskito said the new contracts were dominated by the industrial segment, followed by infrastructure, buildings as well as property projects and EPCC.

Most of the projects achieved by WIKA come from the government and SOEs, with payment schemes based on monthly progress.

With the addition of this new contract, the total contract value held by WIKA has now reached IDR 52.31 trillion. As many as 97 percent of this total contract has a payment pattern based on monthly progress or in accordance with the company's restructuring strategy.

"This implementation resulted in the receipt of cash inflows originating from operating activities of Rp7.66 trillion until May 2024," Budi Waskito said in a written statement, quoted on Saturday, July 6.

Budi Waskito said that the acquisition of this new contract included the Muara Wahau Road Diversion project, Batam Water Treatment Plant and a number of other new contracts from WIKA and its subsidiaries.

In addition, WIKA was again trusted by PT Kaltim Prima Coal (KPC) to work on the 18.9 kilometer (km) Rediversion MWRD project. This appointment was carried out after the success of WIKA in building and maintaining the Muara Wahau Road Diversion (MWRD) project in 2023.

The MWRD Rediversion Project by the KPC aims to move the MWRD route, which was originally built as a national alternative road in East Kutai Regency, East Kalimantan, to expand the KPC's operational area.

From this project, WIKA won a contract worth IDR 550 billion. WIKA will carry out land work. Including, preparation of road bodies, road hardening, handling of existing land and steel construction. The completion target is in December 2025.

"This shows that the KPC as the project owner still believes in the quality of work and delivery of the WIKA project," he added.