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UK firms could benefit from £1.5bn new Olympics work, say ministers

UK firms could benefit from up to £1.5bn worth of new work over the next two Olympics and build on the success of their work on London 2012, ministers said today.

Business secretary Vince Cable, foreign secretary William Hague, trade minister Lord Green and deputy prime minister Nick Clegg vowed to capitalise on the success of the London Games at both the 2014 Sochi Winter Olympics and the Rio summer Olympics via a series of 12 global business summits in London. The first, the Brazil trade summit, is being held today.

“We have identified huge opportunities for UK firms to work on the next Olympic Games in Sochi and Rio – a golden boost to British businesses that will create jobs and support economic growth,” said deputy prime minister Nick Clegg.

Consultant Aecom has already won an international competition to design the Rio 2016 Olympic Park Master Plan and architect Populous is designing the Sochi stadium.

Ministers also believe the international legacy from the Games could be worth up to £13bn for UK firms.

Readers' comments (1)

  • It is by no means clear what is meant by British companies. If these are design practices, then the extravagant numbers do not hold up. Contractors, on the other hand, will have little opportunity in Sochi, for the construction works there are quite advanced. Brasil is another matter, but UK Limited has not made a great impression in that country. Perhaps this fuss about opportunities is the politicians' knee jerk reaction to London 2012 having been a success by some measure or other. By all means try, try and try again, but don't hold your breath. By the way Aecom isn't a British company. It's a US held conglomerate.

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