Ministers work to form aircraft leasing company
JAKARTA (JP): State Minister of Research and Technology B.J. Habibie said yesterday that he and Minister of Finance Mar'ie Muhammad are working on the forming of a finance company to help finance the sales of aircraft produced by state-owned PT IPTN.
"In a few months ahead, I hope it becomes a reality," Habibie said at a seminar organized by the committee of the Indonesian Product Exhibition at the Jakarta Fairgrounds.
The minister explained that the move is to support the marketing of IPTN's products because "no aircraft companies in the world sell their products for cash."
He said the United Arab Emirates, which had ordered seven of IPTN's newest N-250 aircraft, proposed to help with the financing of IPTN's products.
The problem of marketing IPTN-made aircraft surfaced earlier this year when Habibie suggested that the government provide export credit facilities for products of strategic industries, including IPTN's aircraft. However, Minister Mar'ie turned down the proposal, saying that the government was short of funds for such facilities.
After attending the inauguration of the maiden flight of IPTN- made N-250 in Bandung, West Java, last week, Mar'ie said he was ready to discuss with Habibie a way of marketing IPTN's products.
Meanwhile, Minister of Industry Tunky Ariwibowo said yesterday that a number of state-owned companies under his supervision are ready to help finance the construction of the N-2130 jet aircraft by IPTN.
Ready
"The most ready ones are cement, fertilizer and paper companies," Tunky told journalists after inducting a number of new officials at the Ministry of Industry.
Currently the ministry oversees five cement companies, six fertilizer companies and two paper firms. They are PT Semen Gresik, PT Semen Padang, PT Semen Tonasa, PT Semen Baturaja, PT Semen Kupang, PT Petrokimia Gresik, PT Pupuk Sriwijaya, PT Pupuk Kalimantan Timur, PT Pupuk Kujang, PT Pupuk Iskandar Muda, PT Asean Aceh Fertilizer, PT Kertas Kraft Aceh and PT Kertas Leces.
He assured that by helping finance the development of the N- 2130, the state-run companies will not face cash-flow problems. However, he noted that the final decision on the matter is the finance minister's, who is the official shareholder of all state companies.
The construction of N-2130 aircraft, which is under the supervision of Ilham Habibie, a son of Minister Habibie, will require at least US$2 billion. The prototype is expected to hit the sky by 2003.
However, Minister of Forestry Djamaludin Suryohadikusumo assured that no reforestation funds will be earmarked for the construction of the N-2130.
Djamaludin transferred some $180 million in interest-free loans derived from the reforestation funds to IPTN for the construction of the N-250.
President Soeharto said after officiating at the maiden flight of the N-250 aircraft that the funding for the N-2130 will not be taken from the state budget but from other sources such as state- owned enterprises. (rid)