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LONDON - The estimated cost of building sports facilities for the 2012 London Olympics has soared by about 40 per cent.
Sports Minister Tessa Jowell has blamed higher steel prices and transport costs for the rise to £3.3 billion ($9.48 billion) in the official estimate of the cost of building the Olympic Park, the main complex for the Games in east London.
That is £900 million higher than the estimate given in London's bid to host the Games. Some newspaper reports have said the games could cost as much as £10 billion.
The British media has voiced concern over the escalating cost of the Olympics after Jack Lemley resigned last month as chairman of the body responsible for creating infrastructure for the event.
Mr Lemley said the slow progress of the project and concerns over budgets were behind his decision.
Britain has a history of delays and cost overruns for major projects such as the Millennium Dome, regarded as a failure, and Wembley stadium.
Ms Jowell insisted the project was under control, saying International Olympic Committee chief Jacques Rogge had told her it had "full confidence in the good progress of the works".
- REUTERS
