Supported Wika Bank Expansion into North Africa.

BUSINESS INFORMATION - PT. Wijaya Karya Tbk (IDX: WIKA) has the support of banks in order to expand in the field of construction to the oil-rich countries in North Africa.

"Last year we had in 2009 can be immediately worked on construction projects directly in Algeria, North Africa, followed later in Libya and Tunisia," said Director Su, Star Perbowo in Jakarta, Monday, on the sidelines of the delivery of third quarter financial performance in 2009.


Star said, in the expansion into the North African countries, the company received assurances from the Exim Bank Indonesia, which has been difficult to obtain from the banks in Indonesia.

"Security of the banking sector to ensure the Letter of Credit (LC) that we publish can be disbursed and to ensure that the money can be from the work in the countries of North Africa were able to return to their homeland," said Star.

Star says, Wika already have road construction projects and bridges along the 1200 kilometers mengubungkan Algeria - Morocco, even the value of the original contract plus Rp400 billion to Rp700 billion.

Actually there are many projects that they offer in the oil-rich country. But so far we only dare to be sub-contract. As for road projects and bridges we are 1200 miles from Kajima sub Cojaal part of the construction business groups from Japan.

"The issue bank guarantees to be obstacles for us to work on construction projects overseas. Fortunately, the government has given the task to the Exim Bank of Indonesia to facilitate our company as through Law No.. 2 of 2009 regarding the procedures for financing an exporter who works at home and abroad, "he said.

According to the Star who was accompanied by Director of Finance Wika Ganda Kusuma, until the end of September 2009 the company had net sales of retained Rp4, 6 trillion in the same comparative period last year.

While the company's net profit rose from Rp84 position, Rp132.6 billion to 9 billion, largely the contribution of the parent Rp101 billion, while year-end 2009 target of Rp135 billion, said the Star.

Star said, in October 2009 until it was pocketed Rp1, 052 trillion from seven dams Jatibarang job, Kaligarang Flood Control, Mechanical and Engineering Kualanamu Airport, Stadium, Pekanbaru, Balikpapan I and PLTDB in Bali.

If the combined company's contract with 8 contract value from January to September was also obtained Rp8, 2 trillion, the company also has won him a job up to 10 trillion that will be brought to the year 2010, he explained.

"Thus for a job in the year 2010 we do not have to worry about backup is still a lot, not to mention the foreign countries if the project can be handled immediately," said Star optimistic.

"Unlike the Algerians who were active-giatnya build roads and bridges, then Libya and Tunisia are in need of residential high-rise that become our expertise," said Star.