Responsibility for maintaining the Olympic Park for the next 10 years has been handed to Balfour Beatty as part of a £50 million deal, it was disclosed today.
The international firm will manage the future Queen Elizabeth Olympic Park's 250 acres of parkland, wetlands and gardens, and maintain venues such as the multi-use arena and the aquatics centre.
It will also operate the site's ArcelorMittal Orbit 377ft high observation tower, designed by Turner Prize-winning artist Anish Kapoor. The contract does not include the Olympic stadium.
At a value of £50 million, the 10-year contract is expected to create more than 200 new jobs and apprenticeships in east London.
Ian Tyler, chief executive at Balfour Beatty, said: "We are delighted to further extend our involvement with the London Olympics, which began with the Aquatics Centre and now continues with this highly prestigious role in ensuring London 2012 secures a magnificent, lasting legacy."
It was also announced that the Olympic Park's aquatics centre and multi-use arena will be run by leisure centre group Greenwich Leisure.
According to the contract, the price of swimming at the aquatics centre or hiring a court at the arena will be the same as at a local pool or sports centre.
Baroness Margaret Ford, chairman of the Olympic Park Legacy Company, said: "GLL and Balfour Beatty will play a key part in creating a Queen Elizabeth Olympic Park that is a thriving visitor destination with world-class sporting venues that are both affordable and accessible to the public."