WIKA Submits Construction SOE Merger Study, Awaits Danantara’s Decision

JAKARTA, Investortrust.id — PT Wijaya Karya Tbk or WIKA submits its full merger study on Wednesday, Nov 26, 2025 in Jakarta to Danantara Indonesia as the government accelerates consolidation of state owned construction firms, a move expected to create stronger and more efficient national engineering champions.

PT Wijaya Karya Tbk engages in construction, engineering, and infrastructure development across Indonesia and overseas markets.

Senior Manager of Corporate Relations William Lie said WIKA held regular coordination meetings leading up to the submission.

“We meet almost every week. We have compiled all the data for the integration process, and an independent consultant has also conducted a study. All assessments have now been submitted, and we are waiting for further direction,” he said during a site visit to the Sukamahi Dam Glass Bridge Project in Bogor on Nov 26, 2025.

He added that the timing of the merger now rests with Danantara. “For the timing, it is better to ask Danantara. The functions of each state owned construction firm have been mapped, and Danantara just needs to determine the scheme,” he said.

William said WIKA viewed the proposed consolidation positively. “We see it from a rather positive angle,” he said.

WIKA subsidiary Wijaya Karya Bangunan Gedung earlier estimated the merger could be completed by the end of 2026 but is still awaiting formal guidance. “WIKA already has a merger team, but there is no update on timing. The estimated range might be until the end of 2026,” Corporate Secretary Purba Yudha Tama said on Nov 26, 2025.

The State Owned Enterprises Regulation Agency said it aimed to finalize its merger and clustering study by December 2025.

“The process of mergers, the creation of holdings, and even dissolutions or the formation of new SOEs is under our authority. The merger study for the construction SOEs is being finalized and, hopefully, will be completed by December,” Deputy Head of BP BUMN Aminuddin Ma’ruf said in Jakarta on Nov 19, 2025.

Aminuddin declined to comment on whether PT Waskita Karya might be delisted as part of the consolidation. “We are still arranging the construction SOE clusters and hope to finish by December, so we cannot disclose anything yet,” he said on Nov 19, 2025.

He added that the process was being carried out jointly with Danantara. “We are working together with the team at Danantara to ensure the process proceeds,” he said.

Under the preliminary plan, Waskita Karya and Wijaya Karya would be merged into a single holding, Adhi Karya and Nindya Karya would be combined into another entity, and PT PP would remain a standalone construction firm.

Officials said the consolidation aimed to streamline operations, strengthen financial resilience, and sharpen competitiveness for long term national infrastructure projects.