Olympics 2012: it's London

The construction industry can look forward to a work bonanza following London's victory in the 2012 Olympics race.

The British Olympics Association had been working with Mace and Laing O’ Rourke to help with the planning and design of facilities, as well as gauging the capacity of the construction industry. The industry can look forward to work worth at least £728m, a third of the overall costs of staging the Olympics.

The capital costs of infrastructure will total £403m, while expenditure on land purchase and residual value, including the value of remaining buildings and infrastructure, will be valued at around £325m.

Work will include the construction of an Olympic village and an 80,000-seater Olympic Stadium in Stratford.

Full details of the procurement methodology should be available soon. Last month CJ reported that there will be no PFI elements to the construction works, or packaged contracts.