Expansion plans for the London venue ExCeL have been formally approved by the mayor in a foundation-laying ceremony, reports newhamrecorder.co.uk.
The mayor of London, Boris Johnson, laid a foundation stone on the site of the new development in a ceremony to commemorate the start of a new £160 million expansion towards east London. The additional development will be used to host some of the events in the London Olympics in 2012, but it will also offer conference and event facilities for businesses across the UK.
ExCeL chief executive Kevin Murphy told the website: "We are honoured to have support from the mayor of London for our extension plans. This development will help secure London's position as the events capital of the world into 2012 and beyond."
The ExCeL centre was built eight years ago but the additional development is expected to bring an extra £1.6 billion to London over the course of the next three years.
The website recently reported that the ExCeL centre will host a major technology show run by What Hi-Fi Sound and Vision and Stuff Magazine for three days at the end of October.