If I am asked, I am ready to move ahead."
Jakarta (ANTARA News) - State-owned Enterprise (SOE) Minister Dahlan Iskan has said many state-owned companies are ready to acquire PT Indonesia Asahan Aluminium (Inalum) if the government asks them to do so.

"I am waiting for the government`s decision. If I am asked, I am ready to move ahead," he stated after attending a coordination meeting here on Friday.

Dahlan added that one of the state-owned firms, PT Aneka Tambang, was particularly interested in acquiring Inalum. PT Inalum is an Indonesia-Japan joint venture project, with 58.9 percent of its stake being controlled by Japan Nippon Asahan Aluminium (NAA).

Earlier, Dahlan said the ownership of Inalum could only be decided after it was returned to the government. The contract would expire in 2013, he added.

"The government has set aside Rp7 trillion to acquire Inalum, but the funds have not yet been included in the 2012 state budget," Dahlan pointed out.

However, he explained, the government would soon negotiate with NAA in a bid to take over Inalum.

"According to the plan, we will hold an official meeting in August or September. Both sides will sign a document ending the cooperation in October," said industry minister MS Hidayat, who is also the chief of the team in charge of negotiating PT Inalum`s cooperation contract, on Friday.

"After the document is signed there will be a transitional period of one year before the takeover. There are crucial issues on which we must negotiate. We still have time to complete the audit process and get a second opinion from a consultant and other parties. What is important is that the government is determined to buy 100 percent of Inalum shares," he added.

By taking over Inalum, Indonesia would no longer import aluminium, Hidayat noted.

"We have so far imported semi-finished aluminium. There will be no such imports after the takeover," he said.

In the 2012 state budget, the government has allocated Rp2 trillion for its investment arm Pusat Investasi Pemerintah (PIP) in order to acquire a 58.88 percent stake in the aluminium smelter in North Sumatra. The government currently holds a 41.12 percent stake in Inalum.

Inalum produces 230,000 tonnes of aluminium a year. Nearly 40 percent of the output is sold in the domestic market and 60 percent is exported to Japan.
(Uu.A014/INE/KR-BSR/B003)

Editor: Priyambodo RH
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