Aquatic centre costs treble

When troubles come they don't come singly - from Reuters today:

The cost of building the showpiece aquatics centre for the 2012 London Olympics has trebled, organisers said on Tuesday, announcing UK company Balfour Beatty would build the venue.

The centre, designed by Baghdad-born architect Zaha Hadid, caused controversy when its stingray-shaped roof was scaled down and redesigned and Olympics minister Tessa Jowell criticised the costs in 2005.

The building will now cost 242 million pounds ($480 million), the Olympic Delivery Authority said on Tuesday, up from an original 73 million.

A bridge connecting it to the main park will cost another 61 million pounds.

The new price includes inflation and VAT costs, which the original price did not, as well as the price of scaling down the building for use after the Games.

The total bill for the Games has risen to 9.3 billion pounds from original estimates of 2.4 billion.

The ODA said the price was broadly in line with scaled up costings laid out last year.

After the Games, 17,500 temporary seats at the venue will be removed, leaving a swimming, diving and water sports arena with a capacity of 2,500-3,500.

Builder Balfour Beatty was the only company left in the bidding after France's Eiffel and Germany's Hochtief withdrew.

Jowell said on Tuesday she was delighted with the plans while Richard Rogers, chief adviser to the Mayor of London on architecture and urbanism, said: "Zaha Hadid's aquatics centre is likely to be the jewel in the crown of the Olympic Park for the next century."

Balfour Beatty was part of Metronet, the consortium charged with upgrading much of London's tube network which collapsed after running up 2 billion pounds of unscheduled costs.
Shares in the company were down 0.9 percent by 1327 GMT.

Work on the aquatics centre is due to start this year and is scheduled to be completed in 2011.
Team Stadium, consisting of Sir Robert McAlpine, HOK Sport and Buro Happold, was also confirmed as the contractor for the 500 million pound main Olympic Stadium.

The velodrome builder is due to be appointed in the next few weeks.

Interesting, isn't it, that ever since the appointment of a single contractor, the price has risen...