REPUBLIKA.CO.ID, JAKARTA - State owned diversified miner, PT Aneka Tambang (Antam) is ready to manage aluminium producer, PT Indonesia Asahan Aluminium (Inalum), after the company's taking over from Japan.

"We are awaiting decision from government if Inalum is entrusted to Antam," Director of Finance at Antam, Djaja Tambunan said on Friday.

Inalum has its own market share, so Antam will not difficult to find funding for its operation. Inalum is an Indonesian-Japanese joint venture that manufactures aluminum. Government has 41.12 percent shares in company based in North Sumatra.

Based on contract on July 8, 1975 in Tokyo, Indonesia can fully take over Inalum after the contract expires on October 31, 2013. But the taking over requires government to buy remaining shares owned by Japanese government and its value equal to 723 million USD or seven trillion IDR.

Government has prepared seven trillion IDR for the take over and currently the government continues to hold some technical talks, particularly to find a deal over the difference in asset value worth 400 million USD.

Inalum operates Asahan project and it consists of aluminium smelting plant or smelter with a capacity of 225 thousand tons per year, and Asahan Hydropower plant with a capacity of 604 megavolt (MV). Currently, Inalum produces 250 tons of aluminium per year and 60 percent of it is exported to Japan, while 40 percent for domestic market. 

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