Jakarta Globe
Jakarta Earmarks Rp 2t for Inalum as Part of Drive to Take Back Commodities
Edited by : AL CIRCLE
1 min read
The government has set aside Rp 2 trillion ($220 million) to buy a majority stake in Indonesia Asahan Aluminium from Japan’s Nippon Asahan Aluminium.
The Indonesian government, through its Government Investment Center (PIP), will take funds from next year’s state budget to finance the purchase of the shares in the firm known as Inalum, according to the head of the PIP, Soritaon Siregar.
The government’s move to get majority ownership of Inalum is part of its efforts to regain control of the country’s commodities sector.
Inalum produces 230,000 tons of aluminum a year, with 40 percent of the output sold in the domestic market and 60 percent to the Japanese market.
The Indonesian government, through its Government Investment Center (PIP), will take funds from next year’s state budget to finance the purchase of the shares in the firm known as Inalum, according to the head of the PIP, Soritaon Siregar.
The government’s move to get majority ownership of Inalum is part of its efforts to regain control of the country’s commodities sector.
Inalum produces 230,000 tons of aluminum a year, with 40 percent of the output sold in the domestic market and 60 percent to the Japanese market.
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