88 percent of construction for London 2012 Olympics completed
According to a recent announcement made by the Olympic Delivery Authority (ODA), 88 percent of the construction work that was planned for the London 2012 Olympics has reached its completion.
Now that the construction of venues is reaching its final stages, the final cost of the project is decreasing. In its quarterly report, the ODA has confirmed that the costs have been reduced by £16 million. At the commencement of the construction project,
the estimated costs on completion were predicted to be £9.3 billion. However, keeping the present progress in mind, it is most likely that the project will be completed under budget.
As opposed to the initial final cost of the project, the estimated final cost has now come down to a figure of £7.25 billion.
The Sports Minister, Hugh Robertson, made the following statements regarding the construction that is under way: “With one year to go construction is 88% complete, ahead of time and under budget…They have continued to drive down costs which means we can
celebrate one year to go with confidence and a real sense of excitement and expectation."
In all, a total of five venues for the London 2012 Olympic Games have reached completion. Other than that, the Olympic station in Stratford was also finished in the previous month. This station will serve to cater to about half of the spectators that will
be visiting the Olympic Park. The cost that has been incurred by the ODA in upgrading the station had amounted to more than £125 million.
A much awaited site that is undergoing final touches is the Aquatic Centre and will soon be ready for public viewing. Apart from the venue, two new stations are in line to be constructed. The sites for the construction are the Royal Victoria Dock as well
as the Greenwich Peninsula.
It will be the third time that the city of London will be playing host to the Olympic Games. London will become the first city in the world that will have the honour of holding the Olympic Games thrice. The first time that the Games were held in the city
was in 1908 with the second one being held in 1948.
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