Tokyo decides on waterfront stadium for 2016 bid

TOKYO, May 23 (Reuters) Tokyo's 2016 Olympic bid committee has decided to construct a grand-scale waterfront main stadium if chosen to host the Games.

''We're happy to have made the decision,'' the committee's chief director Kenji Suzuki told Reuters on Wednesday. ''Now we feel the race is on and we can begin our bid in earnest.'' Tokyo city government's proposal to build a 900 million dollars stadium had met opposition from those wanting to give the city's National Stadium a facelift.

However, the Tokyo Bay site of Harumi was chosen at an executive meeting of the bid committee yesterday.

''We'd like to build a magnificent stadium,'' said Suzuki.

''Personally I would like to see something beautiful built like the Sydney Opera House.'' The centrally located National Stadium, used as the main arena for the 1964 Olympics, will undergo renovation and instead would be used as a venue for the soccer tournament in 2016.

Tokyo's government will use the private finance initiative (PFI) to help pay for the construction of the main stadium if the city is selected to stage the Olympics.

''Now we have to move forward and look at financing the project,'' Tokyo metropolitan government's senior director for planning and coordination Masahiro Nakajima told Reuters.

''The PFI will be used and obviously we want to reduce the burden on Tokyo in terms of costs as much as possible.'' Tokyo was chosen ahead of Fukuoka by the Japanese Olympic Committee last year for the country's bid nomination.

The host venue for the 2016 Games is scheduled to be announced by the International Olympic Committee in Copenhagen in October 2009.

Chicago won the United States' nomination last month while further bids are likely to come from Rio de Janeiro, Rome, Madrid and Qatar. Beijing will host next year's Summer Olympics with London chosen to stage the 2012 Games.

REUTERS BJR BD1206