"Right now two state-owned companies, PT Pupuk Indonesia and PT Rajawali Nusantara Indonesia (RNI) are still competing with one another to realize the plan. We will decide to choose one of them next week," he said here on Wednesday.
The plan must be realized soon to address medium-and long-term beef problems in the country, he said.
Dahlan earlier came up with an idea of appointing a state firm to buy land in Australia to develop cattle ranch.
The cattle ranch will produce calves to be raised in Indonesia.
Three state firms, namely state logistics board (Bulog), fertilizer company PT Pupuk Indonesia and plantation company RNI had agreed to form a consortium to develop the cattle ranch.
But Dahlan decided to choose one of them on the ground it would take long time if three of them joined to develop it due to bureaucratic issues at each of the companies.
In the long run, the purchase of 1 million hectares of land is intended to stabilize beef price in Indonesia which currently reaches Rp90,000-Rp100,000 a kg.
The project will cost an estimated Rp300 billion, excluding funds to buy calves.
RNI President Director Ismed Hasan Putro said his company was ready to expand its business in Australia if it received a permit from the state enterprises ministry.
(Reporting by Royke Sinaga/S012/B003)