IPTN to build 30 CN-235 airplanes by 2004
IPTN to build 30 CN-235 airplanes by 2004
By M.M.I Ahyani
BANGKOK (JP): State-owned aircraft manufacturer PT Industri
Pesawat Terbang Nusantara (IPTN) plans to build 30 CN-235
aircraft by the year 2004, the company's top executive said on
Thursday.
IPTN president S. Paramajuda said the airplanes, worth US$360
million, were ordered by Malaysia, South Korea, United Arab
Emirates and Brunei Darussalam.
"We are optimistic prospects will be brighter, especially when
the Asian economy crisis is over," he said, after handing over
two CN-235-220 aircraft ordered by Thailand's Ministry of
Agriculture and Cooperatives .
Paramajuda said the CN-235 aircraft has no competitor in its
class, because it is a light transport plane easy to operate and
has low operational costs,
The two airplanes -- ordered by the Thai government in a $28.6
million barter deal with the Indonesian government -- departed
from Bandung for Thailand's Airforce Base on Friday.
The handover was witnessed by Minister of Communications Giri
Suseno Hadihardjono and Thailand's Minister of Agriculture and
Cooperatives Pongphol Adireksarn.
The aircraft are designed for cloud-seeding, with a total
capacity of four to five tons, but they can be transformed into
passenger airplanes.
The airplanes, a modification of IPTN's CN-235 aircraft, are
certified by the United States' Federal Aviation Administration,
the European Joint Airworthiness Administration and Indonesia's
Directorate General of Air Transportation, Paramajuda said.
In 1996, the Thai government agreed to delivery of the two
aircraft in exchange for 110,000 tons of sticky rice.
"We are proud to finish the job amid the current economic
crisis," Paramajuda said.
He acknowledged the company was facing financial difficulties
due to the country's ailing banking sector.
IPTN was currently seeking financial support from
international financial institutions, he said.
"We are negotiating with the Deutsche Bank, Credit Swiss and
others."
Paramajuda said the lifting of the government subsidy, as
required in an agreement with the International Monetary Fund
(IMF), posed a blow to the company, as it must finance all
projects from company funds.
He denied the company was a money-spending project, saying all
money invested could be accounted for.
"All the money we received and spent can be observed from our
results. For example, we finished and delivered this order (for
Thailand's government) without government support.
"It would be fair if the IMF could see for themselves that the
investment still exists," he said, adding that IMF Asia Pacific
Director Hubert Neiss would visit IPTN's headquarters soon.