'New subway investors no problem'

'New subway investors no problem'

JAKARTA (JP): Aburizal Bakrie, the chairman of the Indonesian
Japanese European Group (IJEG) consortium, said the entry of new
investors in the proposed Rp 5 trillion (US$2.1 billion) subway
project to connect Blok M in South Jakarta and Kota in West
Jakarta would not affect the initial planning.

"It's okay and no problem," he said Thursday night.

The Kontan weekly reported earlier that Bambang Trihatmodjo,
President Soeharto's second son and Djoko Ramiadji, the son of
Indonesia's major cosmetics producer Moeryati Soedibyo, would
officially enter the project.

Aburizal, who also chairs the Indonesian Chamber of Commerce
and Industry, said there would be no change even if new investors
like Bambang and Djoko joined the project.

He said new investors would not affect the initial planning
because the present consortium had submitted the project's design
to the Jakarta administration.

Aburizal Bakrie, through his company PT Bakrie Investindo,
chairs the IJEG consortium which includes PT Pembangunan Jaya,
Lippo Group, PT Bukaka Corporindo and PT Steady Safe.

Observers speculated Bambang, who is expected to become
consortium's majority shareholder, could replace Aburizal as the
consortium's chairman.

"The position of the leader in the consortium has nothing to
do with the amount of his shares," Aburizal said. "The leader's
task is to coordinate the members of the consortium".

He said members would own equally the consortium's shares. (09)