He confirmed the development will secure ExCeL's position as London's international exhibition and convention centre, and highlighted the benefit the extension will bring to London and the UK.
The plans will increase ExCeL London's event space by 50 percent and includes a 5,000 seated convention centre. An independent study by Grant Thornton showed that the economic impact of ExCeL London and its new expansion will bring £1.6 billion to London by 2011.
The Mayor of London Boris Johnson said: "The creation of ExCeL London has played a major role in regenerating east London by attracting new businesses and bringing thousands of jobs to the area. Its expansion is just another example of how the 2012 Games are acting as a catalyst for change to leave a lasting legacy and transform this area of the capital."
Already a world class venue & Business Superbrand, hosting some the UK's largest consumer and trade shows, as well as attracting international conventions, corporate clients and sporting events, ExCeL London will also play a central role in 2012 hosting seven Olympic and five Paralympic events.
Kevin Murphy, Chief Executive of ExCeL London said: "We are honoured to have support from the Mayor of London for our extension plans, this development will help secure London's position as the Events Capital of the world, through into 2012 and far beyond. We look forward to inviting the Mayor back in 2010 for our official opening."
