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Profile of Pt Wijaya Karya Tbk.

Backgrounds

The company was originally known with the name of Naamloze Vennotschap Technische Handel Maatschappij en Bouwbedijf Vis en Co. or NV Vis en Co. Based on the Government Regulation No. 2 of 1960 and a decision of the Public Works and Electric Energy Minister (PUTL) No. 5 on 11 March, 1960, the name of he company was changed with Perusahaan Negara Bangunan Widjaja Karja. The company operated in electric and water pipe installation business. In 1972, the status of the company was changed to PT Wijaya Karya (WIKA). WIKA grew to become a major construction contractor handling various big electric installation projects such as construction of electric installations in Asahan and Jatiluhur irrigation project.

In 2007 WIKA sold part of its shares in an initial public offering (IPO) in the Indonesian Stock Exchange reducing the government's share in the company to 68.42 percent5 with investing public holding the rest.

The government has awarded some of the power generating projects under the second 10,000 MW crash program. WIKA has cooperated with Mitsubishi Heavy Industries from Japan.

In 2011, WIKA won new contracts worth Rp 7.91 trillion. The projects include out of pit crushing and conveying in South Kalimantan valued at Rp 738,08 billion, combined cycle power project of PLTGU Borang with a capacity of 60 MW in South Sumatra valued at Rp 296.57 billion, Sepinggan airport of Balikpapan valued at Rp 335.9 billion, Merah Putih bridge in Ambon valued at Rp 226.92 billion, airport project of I Gusti Ngurah Rai valued at Rp 560 billion, gas fired power plant of PLTG Rengat with a capacity of 20 MW in Riau valued at Rp 128 billion, and Hauling Road GBU in Kalimantan valued at Rp 311 billion, and the W2 section of the Jakarta Outer Ring Road project valued at Rp 180 billion.

In 2011, cooperates with General Electric (GE) of the United States to develop business and human resources potentials. In line with its vision, WIKA became an integrated EPC and investment company in ASEAN with four division's infrastructure, Property, Mechanical & Engineering and Energy. In 1997, WIKA established its first subsidiary, PT Wijaya Karya Beton to operate in the procurement of railroad sleepers for the Manggarai double-track in Jakarta, and development of the PLTGU Grati and construction of the bridge of Cable Stayed Barelang in Batam.

Other subsidiaries followed including PT Wijaya Karya Realty (realty), PT Wijaya Karya Intrade operating in industry and trade, PT Wijaya Karya Gedung in high rise building construction, PT Wijaya Karya Insan Pertiwi in mechanical engineering business, PT Wijaya Karya Jabar Power, operating in the geothermal power plant (PLTP) sector.

Construction of power plants

WIKA is well known in the energy sector with its success in developing a number of power plants in various areas in Indonesia. Among the projects included civil construction of power plants of PLTU Labuhan Angin 3x142 MW, PLTU Labuan 2x300 MW, PLTU Pelabuhan Ratu, PLTG Muara Karang 2x240 MW and 3x100 MW, PLTGU Tanjung Priok, PLTU Pacitan, PLTU Indramayu 3 X 330 MW, PLTU Celukan Bawang Bali 3 x 142 MW; and EPC projects of PLTU Amurang 2x25 MW, IPP PLTD Bali 50 MW, IPP PLTP 50 MW, PLTU Asam- Asam 2x65 MW in South Kalimantan.

WIKA has also completed the construction of PLTGU Grati the largest such project in 1995--1996, followed by PLTU Sawahlunto in West Sumatra with a capacity of 2 x 100 MW in 1997.

WIKA also built PLTGU Palembang 150 MW, PLTGU Cilacap 2x300 MW and PLTGU Cilegon 750 MW, PLTU Amurang 2x25 MW in North Sulawesi and PLTU Asam-Asam 2x65 MW in South Kalimantan.

In 2009 WIKA received a contract to build PLTD Pesanggrahan in Bali with a capacity of 50 MW. The power generating projects was worth Rp 500 billion is owned by PT Indonesia Power (IP), a subsidiary of PLN.

The power generating projects were the first investment projects of WIKA, built in cooperation with PT Mirlindo Padu Kencana having share splits of 70%:30% respectively.

The construction of PLTD Pesanggrahan was completed in 2010 with WIKA as a consortium leader was responsible for engineering and procurement of main equipment, construction, and erection work. WIKA built the project under the scheme of build, operate, and transfer (BOT) for 9 years.

IP provides locations to be rented during the contract and MFO fuel. WIKA sold the electricity to IP at a price of Rp 1,183.2 per kilowatt hour (kWh) including BBM or Rp 446.14 per kWh without BBM.

In 2010 Wika and PT Navigat Energy and PT Prastiwahyu Trimitra Engineering formed a consortium respectively with share ratio of 53:30:17 to build PLTG Rengat in Riau with a capacity of 20 MW valued at Rp 128 billion.

WIK consortium for the construction of PLTG Rengat under the scheme of Build, Operate, and Own (BOO). PLN will rent the power plant by paying for the power output at a price of Rp 335.00 / kWh. The fuel for the power plant is provided by PLN. The BOO scheme is for seven years after the power plant came on line commercially.

In 2010 WIKA built PLTG Siak with a capacity of 28 MW valued at Rp350 billion, PLTMH (micro hydro power plants Tenaga Micro Hydro) with a capacity of 13 MW in West Java valued at Rp 300 billion.

WIKA also were eyeing four projects of PLN, including a PLTU 2x100 MW of Pulang Pisau in Central Kalimantan; a PLTU 2x100 MW in Balikpapan, East Kalimantan; a PLTU 2x100 in Riau; and PLTU 2x7 MW in Central Kalimantan, East Kalimantan, and South Kalimantan. WIKA, however, has yet to secure the approval of PLN.

WIKA offered cooperation in power plant construction with Chinese contractors including for PLTU Tanjung Awar-Awar, PLTU Nagan Raya, PLTU Adipala, PLTU Jene Ponto and PLTU Takalar.

In PLTU Asam-Asam, WIKA cooperated with Cheng Da Engineering Corporation from China with Wika as a 30% shareholder and Cheng Da as a 70% shareholder. The joint venture would build Engineering Procurement Construction (EPC) project for PLTU Asam-Asam 2X65 MW in South Kalimantan worth Rp 1.3 trillion. Construction of the project is to start in 2011.

In 2010, the Astra Group built a PLTU having a capacity of 2 x 100 MW in South Sumatra valued at US$ 240 million (Rp 2.2 trillion). Construction of the project was handled by its subsidiary PT United Tractors Tbk in cooperation with WIKA and the South Sumatra provincial administration. The project is expected to be completed in 2012.

In 2011, WIKA is involved in the construction of power generating projects including PLTD Ambon 25 MW, PLTG Borang 60 MW, and PLTG Rengat 20 MW. The power plants are expected to contribution a total income of Rp469.99 billion per year in 2012 to 2019.

PLTG Borang with a capacity of 60 MW in the village of Merah Mata, regency of Musi Banyuasin, South Sumatra. PLTG Borang was built as a follow-up of the rent-purchase scheme for PLTG between PLN's branch of Southern Sumatra Power Generation (Pembangkitan Sumatera Bagian Selatan) and the consortium of PT Wijaya Karya and PT Navigat Energy. The leasing is for 7 years after the end of the rent-purchase contract PLN will take over the operation of PLTG Borang. The plant is to be operation in 2011.

Other than PLTG Borang, in the southern Sumatra (Sumbagsel) a number of units of PLTG built under the rent-purchase system were built including PLTG Payoselincah with a capacity of 100 MW in Jambi and PLTG Talang Duku with a capacity of 60 MW in Musi Banyuasin bringing the total capacity of 3 units of PLTG built under the rent-purchase scheme to 220 MW. By operating PLTG units, PLN hopes to increase its power supplying capacity and become more efficient and less dependent on BBM for fuel

The power supplying capacity in Sumbagsel also will increase with the addition of supply 114 MW from the relocation of PLTG 14 MW and PLTU Sebalang 1 with a capacity of 100 MW.

Meanwhile, through its subsidiary PT. Wika Insan Pertiwi, WIKA will build a power plant with a capacity of 50--100 MW in Timor Leste valued at US$ 16.9 million. The project is to be completed in 2012.
Table--1
Power generating projects built by WIKA

Power plants Location Capacity Operational

PLTU Labuan Banten 2x300 MW
PLTU Labuhan Angin Banten 3x142 MW
PLTGU Tanjung Priok Jakarta
PLTG Muara Karang Jakarta 2x240 MW
PLTGU Grati East Java 864 MW 1996
PLTU Sawah Lunto Sawah Lunto, West Sumatra 2x100 MW 1997
PLTU Pacitan East Java 2x315 MW 2010
PLTU Indramayu West Java 3x330 MW
PLTU Celukan Bawang Bali 3x142 MW
PLTGU Palembang Palembang, South Sumatra 150 MW
PLTGU Cilacap Cilacap, Central Java 2x300 MW
PLTGU Cilegon Cilegon, Banten 750 MW
PLTU Amurang North Sulawesi 2x25 MW
PLTD Pasanggrahan Bali 3x18 MW 2010
PLTG Borang South Sumatra 60 MW 2011
PLTG Siak 28 MW 2012
PLTMH West Java 13 MW 2012
PLTU Ketapang West Kalimantan 2x10 MW 2012
PLTU Asam-Asam South Kalimantan 2x65 MW 2012
PLTU Timor Leste Timor Leste 50MW 2012

Source: PT. WIKA
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Title Annotation:COMPANY PROFILE
Comment:Profile of Pt Wijaya Karya Tbk.(COMPANY PROFILE)
Publication:Indonesian Commercial Newsletter
Geographic Code:9INDO
Date:May 1, 2011
Words:1522
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