Investors sought to fund prototype plane<\/p>\n
BANDUNG (JP): Financially strapped PT Industri Pesawat Terbang
\nNusantara (IPTN), the state aircraft manufacturer, is currently
\nseeking new investors to help finance the certification of its
\nprototype N-250 turboprop airplane.<\/p>\n
The company's technology director, Agung Nugroho, said here on
\nThursday that IPTN was actively seeking foreign investors to help
\nit finance the certification process, which is estimated to cost
\nup to US$100 million.<\/p>\n
"The response so far is quite good. Several foreign investors
\nare very keen to become new investors. But I cannot give the
\ndetails now as their offers are still being studied," he said.<\/p>\n
Agung said the N-250 prototype, the first plane wholly
\ndesigned by Indonesians, is currently undergoing certification
\nfrom the Indonesian Certification and Airworthiness Office, the
\nJoint Airworthiness Authority in Europe and the United States'
\nFederal Aviation Authority.<\/p>\n
The prototype has completed 800 flight hours of the targeted
\n2,000 flight hours in tests for its certification, he said.<\/p>\n
"Usually it takes one year to complete 1,000 flight hours," he
\nadded.<\/p>\n
Agung said the N-250 aircraft could enter the commercial
\nmarket once its certification process is completed successfully.<\/p>\n
"The flight testing needs huge funds because we need to buy
\nfuel, spare parts and other things. As part of the process, the
\naircraft's spare parts have to be reserved from special vendors,"
\nhe said.<\/p>\n
IPTN, the brainchild of President B.J Habibie, who served as
\ncorporation president until March last year, has been deprived of
\nfurther government financial support since last year at the
\nbehest of the International Monetary Fund (IMF).<\/p>\n
Agung admitted that the company was facing financing
\ndifficulties in implementing several of its projects following
\nthe cut in government funding.<\/p>\n
"We have to refocus our mission, for example, by emphasizing
\nthe marketing of the CN-235 aircraft, especially its military
\nversion, which has been considered quite sophisticated in its
\nclass."<\/p>\n
IPTN has also diversified its business by producing high-tech
\nequipment other than aircraft and manufacturing defense devices
\nfor the government, he said.<\/p>\n
The company is also "leasing" its expert staff to other
\naircraft makers, Agung added.<\/p>\n
"At present there are around 20 of IPTN's aircraft specialists
\nworking with Canadian aircraft maker Downier for its Downier 728
\naircraft development project. Several others were hired by the
\nU.S Boeing for its model-structure test project," he said.<\/p>\n
IPTN's technology division, which is chaired by Agung, is
\ncurrently developing the telemetri tracking system, usually used
\nin flight tests, to be applied to air and sea transportation
\ntraffic.<\/p>\n
"We are currently studying the possibility of adopting the
\nsystem in controlling ship traffic in ports. I hope there will be
\nsome parties interested in this project," Agung said.(43\/gis)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/investors-sought-to-fund-prototype-plane-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}