Indonesia’s state-run construction firm PT Wijaya Karya Tbk (Wika) said it has secured a project worth $125 million to develop a commercial tower in Myanmar.
Wika, Indonesia’s largest construction company, and its partner, Singapore-based high-end developer Noble Twin Dragons Pte Ltd, signed a deal to build the mixed-use Pyay Tower and Residences in Yangon.
The company will be the sole contractor in the construction of the tower.
“Wika is proud to take part in [the construction of] Pyay Tower, which will be a landmark in Yangon,” Wika president director Bintang Prabowo said in a statement.
Pyay Tower will have 23 floors and three basements. The first five floors will be dedicated to commercial use while the upper floors will house offices. Wika will commence construction in October and is scheduled to finish the project in two years.
Wika corporate secretary Suradi said the company’s entry into Myanmar was in line with its mission to become a big player in the region.
The firm is also reportedly planning to construct of representative offices of state-run lender Bank Negara Indonesia (BNI) and oil company Pertamina in Myanmar.