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 .