Two investors eyeing TIM project

JAKARTA (JP): Two private investors have expressed interest in helping finance the Taman Ismail Marzuki (TIM) art center renovation project in Central Jakarta, an official said yesterday.

Wiyogo Atmodarminto, chairman of Kesenian Jakarta Foundation, which is in charge of raising funds for the project, said the two investors had proposed to develop the Grand Theater, one of the main buildings of the renovation project.

"We don't know which investors we want to select, whether it is only one, or both of them," Wiyogo told reporters after meeting Governor Surjadi Soedirdja to report the latest development of the project at City Hall.

He declined however to identify the private investors. He said that the municipality would study their proposals before selections.

"The investors' help will be focused on the development of the Grand Theater. If we depend on municipality funds without the help of private investors, it will take a long time to finish the project," Wiyogo, who is a former Jakarta governor, said.

The new Rp 91 billion (US$37.2 million) theater, with a seat capacity of 1,200, is expected to be completed in 1998, he said.

The municipality had earlier promised to allocate only Rp 40 billion for the project over three fiscal years. Private investors are expected to help provide remaining funds.

The Grand Theater will also be equipped with two small theaters with a 300-seat capacity each. The small theaters will be used for small-scale performances, exhibitions and other art activities.

The renovation of the entire 5.5-hectare complex will cost Rp 230 billion and is scheduled to be completed in 15 years.

According to the plan, the complex, containing a movie theater, an art academy and an exhibition hall, will be divided into four zones, with a 12-story office building, a three-star, eight-story hotel with 1,000 rooms, a new modern theater, an exhibition hall and a new Jakarta art institute campus.

Head of the city cultural agency, Azhari Baedlawi, said late last year two other private investors, Lippo Group and Bank Niaga, had also expressed interest in providing the remaining funds.

In return, they wanted to manage the center's parking facilities, office buildings and hotels, he said.

Azhari said yesterday that the cooperation with Lippo Group and Bank Niaga would be based on a 'build, operate and transfer' system.

However, it was not known how far their cooperation had developed.

Workers

After the meeting, Azhari said that the city had not made any decision whether to dismiss or keep the center's 60 employees.

"A team has been assigned to evaluate whether the city will continue employing the workers or not. Currently they are still working," Azhari said.

The renovation of the art center began in June 1996 with state-owned building firm PT Pembangunan Perumahan as its main contractor. The old, open-air theater was pulled down in June 1996 and the construction of the new basement of the modern theater is now under way.

The designs of the buildings as well as the electrical network are being done by the Atelier 6 Group, chaired by architect Adhi Moersid. (ste)