REPUBLIKA.CO.ID, JAKARTA - The government will soon declare PT Indonesia Asahan Aluminum (Inalum) as a state-owned company after having taken it over in November 2013, Chief Economic Minister Hatta Rajasa stated on Thursday.

"Inalum belongs to Indonesia 100 percent now and is in a transition period to becoming a new state-owned company," he clarified, after a coordination meeting on Inalum.

Hatta added that earlier the new status was declared, and the company was now being put in order with regard to Asahan authority and other technical matters regarding the smelter.

"We will settle things related to sharing costs and land after the termination of the Asahan authority. We have ordered a team to settle pending problems with regard to the status so that it will be in accordance with the master plan of the ministry of industry," he explained.

After that the government will issue a government regulation to legitimize PT Inalum as a state-owned company, which is expected to be completed soon.

Industry Minister MS Hidayat added that after that the company is likely to increase its investment by 700 million USD through an IPO and state capital participation after the status is confirmed.

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