01 May 2008
The hosting of the 2012 Olympics in London will see UK– 2,38 billion (̈́ 3,52 billion) spent on capital construction projects in the run-up to the games. Although many of the venues for the games already exist, the main UK– 225 million (̈́ 333 million) 80000-seat athletics stadium (pictured) and the UK– 70 million (̈́ 84 million) aquatics centre will be built specially for the event. In addition, London's wining bid included the UK– 650 million (̈́ 936 million) redevelopment of the Stratford area of east London, which will be the site of the Olympic Village. A further UK– 800 million (̈́ 1,15 billion) will be spent on infrastructure for the games.
Funding will come from the UK's National Lottery, which will contribute UK– 1,5 billion (̈́ 2,16 billion), with UK– 650 million (̈́ 936 million) coming from London's own local Government funds and the remainder coming from the London Development Agency. The UK Government will underwrite the projects.