Cost of 2012 aquatics centre rises 10/11/2010 |
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The budget for the London 2012 Olympic aquatics centre has risen – but savings elsewhere could see the overall cost of hosting the Games fall.
The wave-shaped venue is expected to need an extra £11m to keep construction on track because of problems with the roof, the latest quarterly figures from the Government showed on Tuesday (November 9).
The cost has been on the rise since the original estimate of £75m and now stands at £268m.
But the overall Olympic bill is expected to stay within the £9.3bn budget, with the Olympic Delivery Authority’s (ODA) share likely to come in at £7.23bn.
"The ODA has continued to drive down costs and deliver savings despite this being the most complex year in construction terms," said Olympics minister Hugh Robertson.
The ODA has made £750m of savings since the 2007 baseline budget was agreed, including £29m in the last quarter, the bulk of which was in response to the Government's October spending review.
Part of the savings came from ditching the £7m plastic wrap around the main stadium – a move criticised in some quarters.
But Olympic officials suggested alternative funding could be found to restore the wrap, with "real possibilities being explored".
Robertson added: "As soon as we were clear that this wouldn't affect wind speeds and timings in the stadium, then we were happy to take it [the wrap] off and then open it up to architectural experts and others who will take a view, and indeed sponsors, and the private sector in general to see if they want to have a look at it."
The contingency fund stands at £1.14bn, with about £500m earmarked for venue security, ferrying people safely between transport hubs and venues, and other measures.
The remaining £500m would be used for any unexpected costs, but potentially could be banked by the Treasury as a saving.
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