'Tower' time for Olguin

Chilean helmer Jorge Olguin is directing the Mayhem Project’s horror pic “Clock Tower,” based on the Japanese vidgame franchise.

Production is slated to begin this fall.

Penned by Jake Wade Wall (“When a Stranger Calls”), pic concerns a young woman who receives a disturbing phone call from her estranged mother warning her not to come home. When she investigates, she uncovers a terrible supernatural truth from her past.

Mayhem Project chairman-CEO Anthony Mosawi and prexy of production Brad Luff are producing. Tim Kwok exec produces. Mayhem exec Jennifer Rogers is supervising for Mayhem.

Olguin made an impression on Mayhem when he presented the company with a set of animated storyboards for “Clock Tower,” featuring Scissorhands — the “Clock Tower” villain — as well as a trailer for the movie based on Wade Wall’s script.

Launched in 1997 by Japanese vidgame studio Capcom, the Clock Tower franchise has become one of the bestselling vidgames of all time. “Clock Tower 3″ alone has sold over 2 million units. Capcom is also behind the vidgame franchises “Resident Evil,” “Devil May Cry” and “Onimusha.”

Olguin’s directorial debut, “Angel Nero,” was the biggest B.O. hit in Chile in 2000. His second feature, “Sangre Eterna,” was also commercially and critically acclaimed and caught the attention of Guillermo del Toro, who’s producing Olguin’s upcoming pic “The Call of the Sea.”

The Mayhem Project was launched last June by Mosawi — formerly the chief operating officer of Paramount-based Mutual Film Co. — with the mandate to produce and finance high-concept genre films. Company is backed by two U.K.-based hedge funds.

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