Aggreko pulls out of Rio Olympic Games power bid

Mobile electricity firm Aggreko has pulled out of bidding for a contract to power the Rio de Janeiro Olympic Games.

The 2016 Olympic organisers have broken up the contract and gave the first part to another bidder, it said.

The company said it had withdrawn from the bidding because of the size of the event and preparation needed.

Glasgow-based Aggreko won a contract for the 2012 London Olympics worth £55m supplying power for the opening and closing ceremonies.

A temporary power supplier is considered vital to guarantee power during the opening and closing ceremonies and for international broadcasters to show the event, as well as to provide back-up power to the venues.

Chris Weston, chief executive of Glasgow-based Aggreko , said: "We have given considerable thought to our decision to withdraw from the bidding process and I would like to thank our team for all their hard work. We wish Brazil, the Rio 2016 Committee and the International Olympic Committee the very best for a successful games."

In October, the organisers of the Rio Olympic and Paralympic Games said they were making cutbacks of up to 30% to avoid going over the £2.38bn budget.

Rio 2016 communications director Mario Andrada said the Brazilian public would not tolerate an overspend.

At the Confederations Cup held in Brazil in 2013, fans protested angrily at the amount of money spent - about £2.57bn - on staging the 2014 World Cup.