The Jakarta Post, Jakarta | Fri, 12/17/2010 7:41 PM | Business
The government said Friday that the book value of state aluminum producer PT Inalum would be US$1.2 billion in 2013.
Arif Baharuddin, the director general for state assets, said the government would take over the company for a price based on the company's book value and would not extend the contract with Japan.
“We predict that the book value of company will be $1.2 billion in 2013. The exact figure still needs a due diligence,” he said.
Inalum was established under an agreement with the Japanese government in 1976. The agreement expires in 2013.
The Indonesian government has a 41.1 percent stake in the company and the Japanese consortium holds 58.9 percent.
The company produces 250,000 tons of aluminum per year, 60 percent of which is exported to Japan.
Arif Baharuddin, the director general for state assets, said the government would take over the company for a price based on the company's book value and would not extend the contract with Japan.
“We predict that the book value of company will be $1.2 billion in 2013. The exact figure still needs a due diligence,” he said.
Inalum was established under an agreement with the Japanese government in 1976. The agreement expires in 2013.
The Indonesian government has a 41.1 percent stake in the company and the Japanese consortium holds 58.9 percent.
The company produces 250,000 tons of aluminum per year, 60 percent of which is exported to Japan.
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