JAKARTA (Yosefardi) – The government of Indonesia mulls two options for acquiring 58.87% stake in PT Indonesia Asahan Aluminium (Inalum) from Japanese company Nippon Asahan Alumunium (NAA).
Industry Minister MS Hidayat told media on Tuesday (Sept 24) that the first option is to acquire all shares of Inalum at price of US$390 million based on audit of Development Finance Controller (BPKP). The problem is that NAA sets Inalum’s price at US$650 million.
While the second option is, MS Hidayat said, to bring Inalum dispute to arbitration tribunal. Government of Indonesia and NAA is now in negotiation for Inalum.
Currently Indonesia holds 41.14% stake in Inalum. While NAA consortium consists of Japan Bank for International Cooperation (JBIC) which represents the government of Japan (50% interest) and 12 private companies in Japan.
The contract of Inalum is scheduled to end in October 31, 2013.