JAKARTA-Government of Indonesia will take over PT Inalum to prepare a budget of around Rp 7 trillion or equivalent of U.S. $ 730 million in 2013.
"Indonesia is fighting to take over 100% stake in Inalum to buy the remaining shares of 59%, which previously we had 41%," said Minister of Industry MS Hidayat, Wednesday (01/08/2012).
He said the government is currently negotiating unofficial figures equate to a purchase, discuss legalization, as well as labor. He said that formal talks will begin in August or September 2012.
"According to the 'master agreement', if we take over or buy shares then it must be 'clear' (completed) payments as well as discussion of one year prior to maturity," he said.
He explained the negotiations and the payment for the shares Inalum should be completed by the end of October 2012, since October 2013 is the due date.
Hidayat predicted when the budget is used is from the State Budget (Budget), then the government would discuss it at the House of Representatives (DPR) first.
"After mastering all the shares Inalum, the Government will appoint a State Owned trusted to manage it. However, the state government has not determined which ones will gained the confidence to manage Inalum future, "he said. (*)
"Indonesia is fighting to take over 100% stake in Inalum to buy the remaining shares of 59%, which previously we had 41%," said Minister of Industry MS Hidayat, Wednesday (01/08/2012).
He said the government is currently negotiating unofficial figures equate to a purchase, discuss legalization, as well as labor. He said that formal talks will begin in August or September 2012.
"According to the 'master agreement', if we take over or buy shares then it must be 'clear' (completed) payments as well as discussion of one year prior to maturity," he said.
He explained the negotiations and the payment for the shares Inalum should be completed by the end of October 2012, since October 2013 is the due date.
Hidayat predicted when the budget is used is from the State Budget (Budget), then the government would discuss it at the House of Representatives (DPR) first.
"After mastering all the shares Inalum, the Government will appoint a State Owned trusted to manage it. However, the state government has not determined which ones will gained the confidence to manage Inalum future, "he said. (*)
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