Work on the foundations of the Zaha Hadid-designed venue will be launched by Olympics minister Tessa Jowell, ODA chairman John Armitt, and Sebastian Coe, chair of the 2012 organising committee.

The venue will form a  'Gateway to the Games' in 2012, and in legacy will provide world-class swimming facilities that London does not currently have.

ODA chairman John Armitt said: “Last April the ODA set out a series of challenging milestones we were aiming to achieve on the project by this summer, so that the public could judge the progress we are making.

“We have hit these deadlines in virtually every regard and exceeded them in some cases. We have started construction early on both the Olympic Stadium and the Aquatics Centre, which will form a fantastic gateway to the Games and provide permanent world-class swimming and diving facilities for the capital.”

He added that the ODA would today publish a new set of milestones for the coming year.

The ten milestones that it plans to achieve by 27 July 2009, includes the removal of 52 pylons currently scarring the site as power switches underground, the completion of the Olympic Stadium and Aquatics Centre foundations, the completion of the works at the Weymouth and Portland sailing venue and work underway on the foundations of the VeloPark and International Broadcast Centre/Main Press Centre.