On January 6, 1976, PT Indonesia Asahan Aluminium (INALUM), a joint venture company between the Government of Indonesia and Nippon Asahan Aluminium Co., Ltd. was established in Jakarta. INALUM is to construct and operate the Asahan Project, in accordance with Master Agreement. The shareholding ratio between the Indonesian Government and Nippon Asahan Aluminium Co., Ltd. on the establishment of the company was 10% to 90%. In October 1978 the ratio changed to 25% to 75% and since June 1987 it has been 41.13% to 58.87%. The share composition then changed to 41.12% for the Government of Indonesia and 58.12% for NAA Co., Ltd. on February 10, 1998. To implement the provisions of Master Agreement, the Government of the Republic of Indonesia issued a Presidential Decree No. 5 of 1976 for the establishment of Asahan Development Authority as a representative of the Government responsible for the smooth construction and development of the Asahan Project. INALUM can be recorded as a pioneer and the first company in Indonesia dealing with an aluminium smelting industry with a huge investment of 411 billion Yen . In practice, the conversion of INALUM's status from foreign investment company to state-owned enterprise happened on November 1st, 2013, as agreed in Master Agreement. Termination of contract between Indonesian government and Japanese corporation consortia took place on December 9th 2013, and by law INALUM officially declared as state-owned enterprise on December 19th 2013 after Indonesian government took over INALUM's remaining shares that previously owned by the consortia. INALUM was becoming the 141st state-owned enterprise in Indonesia on April 21st, in line with government regulations No.26, 2014. PT Indonesia Asahan Aluminium (Persero) produced aluminium ingot, 22.7 kgs each. PT Indonesia Asahan Aluminium (Persero) produced 2 (two) kinds of ingot quality, 99.90% and 99,70%. Primary Aluminium Ingot of PT INALUM (Persero) is registered under London Metal Exchange (LME), on September 23, 1987. The quality standard of Aluminium ingot of PT INALUM (Persero) is refered to JIS H2-102, 1968 (Reaffirmed 1974) and Western, Aluminium Assosiation Designation and Chemical composition Limits for Unalloyed Aluminium of Aluminium Assosiation Inc., USA. Started from 2017, INALUM produced 2 (two) kinds of diversification product consist of Aluminium Billet type 6061, 6063 and Foundry Alloy type A356.2. On November 27, 2017, INALUM was officially appointed to lead the Holding Company for Mining Industry in charge of PT Antam Tbk, PT Bukit Asam Tbk and PT Timah Tbk.