Olympic preparations boosted by major reduction in building costs

WITH just a year to go before the London Olympics encouraging new figures reveal that the anticipated final cost of the Olympic Delivery Authority’s construction programme has fallen to £7.25bn and is likely to come in £850m under budget.

Sports and Olympics minister Hugh Robertson claimed the figure, a £16m reduction on the previous quarter, showed that construction work was progressing at a pleasing rate.

“With one year to go to London 2012, the Games construction is 88 per cent complete and ahead of time and under budget,” Robertson said.

Once the Olympic venues are completed the focus will turn to furnishing and fitting them out, a responsibility that will fall on the shoulders of the London Organising Committee of the Olympic Games, chaired by Lord Coe.

“The teams at Locog are now concentrating on finalising our plans to stage the Olympic Games – we are about half way through our own procurement programme and there are lots more opportunities for British business to be part of the greatest show on earth,” said Coe.