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The Solomon R. Guggenheim Foundation is scheduled to complete the study, estimated to cost around 2.5 million dollars (1.88 million euros), by the end of this year.
Speaking at the Helsinki press conference, Guggenheim Foundation director Richard Armstrong hailed the initiative.
"Finland is clearly poised for a greater role on the international cultural scene," he said.
He added that even though the Foundation is approached often about similar projects, there are no other feasibility studies currently under way.
Armstrong said it was far too early to talk about potential exhibitions, but pointed out that the Guggenheims in New York and Bilbao, for instance, relied on a "relationship of mutuality," often sharing collections.
This means Helsinki could possibly have access to one of the world's most reputable art collections, which could put the city on the world map as a major arts destination in a phenomenon known as the "Bilbao effect".
Although the study must be reviewed and approved by the Helsinki city council and the Guggenheim Foundation, Armstrong said the project had strong approval from the board of trustees and the Guggenheim Museum in Bilbao.
Another Guggenheim museum is currently being built in Abu Dhabi.
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Speaking at the Helsinki press conference, Guggenheim Foundation director Richard Armstrong hailed the initiative.
"Finland is clearly poised for a greater role on the international cultural scene," he said.
He added that even though the Foundation is approached often about similar projects, there are no other feasibility studies currently under way.
Armstrong said it was far too early to talk about potential exhibitions, but pointed out that the Guggenheims in New York and Bilbao, for instance, relied on a "relationship of mutuality," often sharing collections.
This means Helsinki could possibly have access to one of the world's most reputable art collections, which could put the city on the world map as a major arts destination in a phenomenon known as the "Bilbao effect".
Although the study must be reviewed and approved by the Helsinki city council and the Guggenheim Foundation, Armstrong said the project had strong approval from the board of trustees and the Guggenheim Museum in Bilbao.
Another Guggenheim museum is currently being built in Abu Dhabi.
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