Indonesian Political, Business & Finance News

Glodok market to be rebuilt in December

| Source: JP
Glodok market to be rebuilt in December

JAKARTA (JP): The construction of the popular Glodok
electronics market in West Jakarta, which was burnt to the ground
during last year's May riots, is expected to start in December
this year, a company executive said on Saturday.

Ivo Edwin Aryanto, spokesman for the city-owned market
operator PD Pasar Jaya, said the market would be developed into a
seven-story building from the original five-story building. The
project will cost approximately Rp 50 billion (US$7.15 million).

"We are now selecting several companies who will take part in
a tender for the project. We hope we can start the construction
in December," Ivo said.

He said each of the market's seven floors, whose design will
resemble an "old Jakarta" landscape, will be equipped with
parking lots capable of containing 400 cars.

The spokesman said the new market will be able to accommodate
900 traders, 200 more than the old one.

He said PD Pasar Jaya had experienced trouble tracing the
mostly ethnic Chinese traders who originally owned the kiosks in
the market, because they were believed to have fled the country
soon after the unrest broke out.

"We have advertised abroad, including Hong Kong, urging the
traders to return. But only a small number of them have replied,"
he said.

Ivo dismissed speculation that PD Pasar Jaya had profited from
the interest on the Rp 50 billion deposit.

"The money is still in the account of the Ministry of Finance.
It will be disbursed in phases if the construction project
starts," he said.

He said the Rp 50 billion was part of a Rp 60 billion loan
from the Ministry of Finance.

"About Rp 10 billion of the loan has been used to renovate
three markets: Pasar Minggu and Cipete in South Jakarta and
Palmerah in West Jakarta, which were also destroyed during the
riots," he said.

In a related development, Deputy Governor for Economic and
Financial Affairs Fauzie Alvi Yasin, inaugurated on Saturday a
traditional market shopping tourism campaign.

"We hope the campaign can restore economic activities in the
traditional markets," Fauzie said in a ceremony at Rawa Bening
market, in East Jakarta.

Rawa Bening is known as a center for gems and stones, while
Tanah Abang market is popular as a textile center, he said. (jun)
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