Wika to build two coal-fired power plants

PT Wijaya Karya Tbk (Wika), publicly listed engineering, procurement and construction company, plans to build two coal-fired power plants each with capacity of 1 x 60 megawatt (MW) in Padang, West Sumatra and in Karimun, Riau islands, Investor Daily reported on Friday.

Wika president director Bintang Perbowo said in Jakarta on Thursday that the total investment for the two power plants would reach US$150 million or $1.25 million per MW.

?The location will be in Padang and Karimun,? he said. But he did not say wether Wika would be just the contractor of the two power projects or is the owner.

As of March 2012, Wika has secured new EPC contracts worth Rp 3 triliun. The new contract is projected to reach Rp 16 trilllion at the end of this year. If combined with the carried over contracts, the total value of the contracts until the end of this year will reach Rp 32 trillion.

The new contract include the construction of the Hive Tamansari apartment in Cawang, East Jakarta worth Rp 600 billion. Wika and its partners have also won contracts worth Rp 925.44 billion from PGN to build gas-fired power plant in East Kalimantan with capacity of 2 x 50/60 MW.

Wika expects to book total revenues of about Rp 9.4 trillion this year, a 22 percent increase from the previous year. Net profit is projected to increase 23 percent to Rp 430 billion. (*)