Solideo, which is in charge of Paris 2024 construction, has settled its budget for 2021 ©Getty Images

Solideo, the state-owned company in charge of the construction sites for the 2024 Olympic and Paralympic Games in Paris, has settled its budget for 2021, when building work is set to get underway in earnest.

Expenditure has been fixed provisionally at €311.2 million (£277 million/$370.3 million).

This figure includes a little more than €61 million (£54.3 million/$72.6 million) for the Athletes’ Village in Seine-Saint-Denis and close to €26 million (£23 million/$31 million) for the media village at Le Bourget in the north-eastern suburbs.

The 60 remaining Olympic-related structures will account in 2021 for close to €190 million (£169 million/$226 million) of spending by the public body, which is chaired by Paris Mayor Anne Hidalgo, and its partner contracting authorities.

Organisers have insisted that Paris 2024 preparations remain on track despite disruption caused by the coronavirus pandemic ©Getty Images
Organisers have insisted that Paris 2024 preparations remain on track despite disruption caused by the coronavirus pandemic ©Getty Images

By the end of next year, some two-and-a-half years before the start of the Games, it is expected that €668 million (£594.5 million/$795 million) of expenditure will have been made in total.

It is hoped the Olympic and Paralympic project will be among factors helping to reignite the French economy in the wake of the problems caused by the coronavirus pandemic.

Overall public funding for Solideo is set at €1.386 billion (£1.23 billion/$1.65 billion) in 2016 euros, with private finance accounting for a further sum of between €1.8 billion (£1.6 billion/$2.14 billion) and €2.3 billion (£2 billion/$2.7 billion).

The 2021 budget was adopted by Solideo’s Board of Directors at its final meeting of this year on Tuesday (December 8).