London, Oct.19 : Radioactive material has been dug up on the site of the Olympic Park as contractors cleared a 100-year-old waste tip, it emerged on Thursday.

The Olympic Delivery Authority (ODA) said that an old speedometer, from an aeroplane or a car, was found to contain a radium-based luminous paint.

The ODA said that the levels of radiation found were very low and there was no risk to the public.

The findings, according to The Times, were announced as it emerged that the row over the spiralling cost of the London 2012 Olympics had led to future bidding cities being ordered to provide more accurate budget costs.

The cost of the 2012 Games has trebled from the original bid in 2004 to 9.3 billion pounds.

The waste tip was found where the Olympic velodrome will be situated, north of Stratford, East London, close to several factories that were known to be using radium paint between the 1930s and 1940s.

The findings were outlined in a report from a specialist contractor. Lawrence Waterman, of the ODA, said the levels would be similar to those experienced by anyone flying to Europe. (ANI)