WIKA Beton works on Manila subway project, explores LNG facility in Alaska

Precast concrete firm   PT Wijaya Karya Beton Tbk (WIKA Beton) (IDX: WTON) is participating in overseas infrastructure projects, including the Metro Manila Subway in the Philippines and a planned LNG facility in Alaska.

President Director Kuntjara said the company is supplying segmental tunnel components and rail track elements for the Manila subway project, with production carried out by its subsidiary WIKA Kobe in Majalengka. West Java.

The Metro Manila Subway project is financed by the Japan International Cooperation Agency and executed by Colas Rail as the trackwork contractor.

Kuntjara said WIKA Beton did not allocate capital expenditure for the project and is currently delivering components under the contract.

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The project has a contract value of about $110 million (approximately Rp1.87 trillion) and has reached around 30% completion, although progress has faced typical challenges such as land acquisition issues.

In addition, the company is in discussions to participate in the North-South Commuter Railway (NSCR) project in the Philippines, a longer rail line spanning about 100 kilometers.

Separately, WIKA Beton has signed a memorandum of understanding for the development of a liquefied natural gas (LNG) production facility in Alaska, marking a potential expansion into the energy infrastructure sector.

Kuntjara said the Alaska project is expected to be a major undertaking for the company, although it is still at the preliminary agreement stage.

Editing by Alexander Ginting