MD1419 Olympic Stadium Conversion Contract
In January 2014, Balfour Beatty was awarded the contract to convert the former Olympic Stadium, which included installing the largest single span cantilever roof in the world, into a multi-use sporting venue which will be the permanent home of West Ham United Football Club, and the new national competition stadium for athletics in the UK. This is a unique two-year transformation project and a hugely complex engineering scheme.
The London Legacy Development Corporation (“Legacy Corporation” or “LLDC”) seeks consent to the LLDC Investment Committee’s decision, at its meeting on 22 October 2014, to approve the settlement position reached with Balfour Beatty in respect of Stadium transformation works, due to significant, additional strengthening work required to provide adequate support for the new roof. The Legacy Corporation will meet the additional costs of the agreement with Balfour Beatty from project contingencies and additional future income generated from its developments on Queen Elizabeth Olympic Park (QEOP).
Mayoral consent is required under section 213 of the Localism Act 2011 and paragraphs 3.2, 4.7(b) and 4.9 of the LLDC Governance Direction 2013, as approved by MD1227.