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London 2012 site work 'on time' | London 2012 site work 'on time' |
(about 1 hour later) | |
One year after construction of the London 2012 Olympic site began, organisers have said building work is on time and on budget. | One year after construction of the London 2012 Olympic site began, organisers have said building work is on time and on budget. |
The 500-acre site in Stratford, east London, will include a stadium, Aquatics Centre and Olympic Village, to house athletes during the Games. | The 500-acre site in Stratford, east London, will include a stadium, Aquatics Centre and Olympic Village, to house athletes during the Games. |
The Olympic Delivery Authority (ODA) said preparations were "on track". | The Olympic Delivery Authority (ODA) said preparations were "on track". |
The ODA plans to finish construction by 2011 to give it one year to run test events on the site. | The ODA plans to finish construction by 2011 to give it one year to run test events on the site. |
Building work for the 80,000-seat Olympic stadium is four months ahead of schedule, London 2012 chief Lord Coe said. | Building work for the 80,000-seat Olympic stadium is four months ahead of schedule, London 2012 chief Lord Coe said. |
The original budget for the 2012 Olympics was £3.4bn but this was increased to £9.3bn in 2007. | The original budget for the 2012 Olympics was £3.4bn but this was increased to £9.3bn in 2007. |
The £1bn Olympic village was to be funded by private investment but will now be met by public contingency funds. | The £1bn Olympic village was to be funded by private investment but will now be met by public contingency funds. |
The ODA admitted the economic downturn had affected private sector funding for the Athletes' Village and Broadcast Centre, but pledged the Games would not exceed its budget. | The ODA admitted the economic downturn had affected private sector funding for the Athletes' Village and Broadcast Centre, but pledged the Games would not exceed its budget. |
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