The budget for the London 2012 aquatic centre, billed to cost £75m, has more than tripled to £242m, according to Olympic organisers.

According to a report in the UK’s Guardian newspaper, a last-minute attempt to hike the price by the contractor Balfour Beatty contributed to the increase in the cost of the project.

The Zaha Hadid-designed aquatic centre will include two 50m swimming pools and diving pool, built close to the main park entrance.

Hadid was forced to design the iconic structure twice after original designs proved too large for the space allocated on the site.

The Olympic Delivery Authority also revealed the cost of the velodrome has increased from £40m to £80m.

By staff writer