The contract to build the London 2012 Olympic Velodrome has been awarded to Interior Services Group (ISG), the Olympic Delivery Authority (ODA) has announced.

ISG were responsible for installing the new timber track at Manchester Velodrome, where British cyclists won nine gold medals at the recent World championships.

The 6000-seat velodrome will be the third Olympic size indoor track to be built in Britain. But it will have almost twice the capacity of Manchester (3,500 spectators) and four times that of Newport, which is principally training with accommodation for 1,500 spectators.

The cost of the velodrome will be delivered ?within the overall Velopark budget? of £80 million, say the ODA. That figure includes building the BMX track and its legacy conversion costs, as well as the road cycle circuit and mtb course.

ISG will work with the VeloPark design consortium led by Hopkins Architects. Plans for the VeloPark are currently being finalized following protracted discussions with British Cycling and the local Eastway User Group, and are due to be announced this summer.

David Higgins, ODA Chief Executive said:

?The VeloPark will be one of the biggest legacies of the Games, delivering world-class cycling facilities for elite athletes and the local community to use for generations to come, all in a landmark new building for London.

?Securing a world-class contractor to deliver the Velodrome is a huge boost for British cycling and a boost for British business.?

Sebastian Coe, Chairman of the London Organising Committee, said:

?The recent success of British cyclists at the world championships and the growing popularity of cycling in the capital show the huge value in creating new first-class cycling facilities in London. The Velodrome will offer our cyclists a world-class platform to hit gold in 2012 and leave a permanent cycling legacy in the capital, so securing a construction team for this landmark venue is an important step forwards.?