Olympics: 2012 aquatics construction deadline seen tight
Construction of all the main London 2012 Olympic venues is on track, but the deadlines for the aquatics centre and part of the athletes' village are becoming tight, Britain's spending watchdog said on Wednesday.
February 16, 2011 / 08:48 IST
Construction of all the main London 2012 Olympic venues is on track, but the deadlines for the aquatics centre and part of the athletes' village are becoming tight, Britain's spending watchdog said on Wednesday.
The National Audit Office (NAO) also said the final cost of the Games was "inherently uncertain", and the remaining contingency needed to be carefully managed to stay within the overall 9.3 billion pound ($14.9 billion) budget."There can be no guarantee that the remaining contingency will be sufficient to cover further unknown risks to the Games," the NAO said in its latest 2012 Olympic progress report."The Government Olympic Executive should have plans for how it will meet any requirement for extra funding which cannot be met from within the remaining contingency."The Olympic Delivery Authority (ODA), responsible for getting the Games ready, is currently on track to meet its budget and construction targets, with all 24 main infrastructure and venue projects due to be handed over to the London organising committee (LOCOG) for testing on or ahead of schedule.Five have already been finished. But construction on the Zaha Hadid-designed aquatics centre has slipped by two months to June 2011 because of complications with its wave-shaped roof.Two of the 11 residential blocks in the athletes' village have taken 15 weeks longer than planned.Question marks still surround funding for some projects, including security around transport hubs, while the NAO continued to express concern about LOCOG's finances. Any budget shortfall would have to be picked up by the British taxpayer.The NAO also called for the non-sporting events programme around the Games to be finalised so their impact could be assessed on transport planning and security resources.Legacy ambitions, a key plank of London's successful bid, may suffer because of the "natural priority" to deliver a successful Games within an immovable deadline.For example, a pledge on improving the employment prospects and skills of women and disabled people had fallen short, the report said.The Olympic Park Legacy Company (OPLC), responsible for the venues after the Games, not only lacked an agreed funding package, but also did not have a clear plan on how the stadiums would be maintained if it failed to find anchor tenants. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
