WIKA eyes over Rp2 trillion construction projects in Africa

State-run construction firm PT Wijaya Karya (Persero) Tbk (WIKA) has eyed some construction projects in Africa, with contract value totaling over Rp2 trillion.


"Projects are still underway in some countries, including Senegal, Rwanda, Ivory Coast, Madagascar, and Aljazair. The potential contract value totals over Rp20 trillion," Corporate Secretary of PT WIKA Mahendra Vijaya noted here on Wednesday.

The projects include the construction of road, ports, apartment, and central bank's building.

However, he affirmed that the company will conduct an in-depth evaluation, including their financial capability and potential benefit of the projects, before it takes the offer.

"Before taking up a project overseas, we need to put in a priority prudential factor and thorough evaluation on risk factors, such as security, political stability, and immigration," he noted.

The company has the support of the Indonesian Export Financing Institution (LPEI), or Eximbank, in terms of the low-interest rate loan.

"WIKA has continued to synergize with the Foreign Ministry, and it also received funding support from Eximbank Indonesia," he added.

Wika has set a target for 2019 to sign new overseas contract of between Rp4 trillion and Rp5 trillion, or some five percent of its total new contract of Rp61 trillion.