State-owned contractor PT Wijaya Karya Tbk (WIKA) has obtained license to build an asphalt mill with the capacity of 300,000 metric ton in South East Sulawesi.
Wijaya Karya President Director Bintang Perbowo, as reported by Kontan daily, said the company obtained the license in August.
"We start to build the mill after Idul Fitri. We have to provide Rp300 billion to support the new mill," he said.
In the first stage, the company plans to build a 50,000 metric tons of asphalt mill with total investment of Rp50 billion-Rp100 billion. As of June 2010, Wijaya Karya booked Rp821.75 billion cash.
Disclosure: No position at the stock mentioned above.
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