JAKARTA (Yosefardi) – PT Wijaya Karya Beton, unit of state construction firm PT Wijaya Karya Tbk (WIKA) had issued medium term notes (MTN) worth Rp366 billion, carrying coupon of 9.5%.
The MTN was purchased by Bank Mandiri and BII Maybang. The funds will be used to support business expansion such as plant establishment, acquisition of assets, and expaning production capacity.
Wika Beton allocates capital expenditure (capex) of Rp400 billion for this year. It will this month establish a concrete plant in Lampung, expected to complete in May next year. This project costs Rp300 billion.
The company also plans to acquire a concrete plant by end of this year, located in Batam, Riau island, which costs Rp250 billion.