The Olympic Park Legacy Company has appointed Balfour Beatty to run services and facilities at Queen Elizabeth Olympic Park in East London for the next 10 years.
Under the terms of the deal, Britain’s biggest contractor will take on responsibility for a range of services including estates and facilities management as well as operation of the ArcelorMittal Orbit.
The company expects to create around 200 new jobs through the deal, with many of these filled by local people.
The contract value is £50m over the next ten years, although further scope extensions under discussion between Balfour Beatty WorkPlace and the Olympic Park Legacy Company may see the long-term value of the wider Olympic Park work grow significantly beyond the initial operational phase.
The first phase starts with the opening of this summer’s Olympic Games.
Balfour Beatty Chief Executive Ian Tyler said: “We are delighted to further extend our involvement with the London Olympics, which includes construction and delivery of the Aquatics Centre and now encompasses this prestigious role in ensuring London 2012 secures a magnificent, enduring legacy.”