The London 2012 Olympics could be worth up to half a billion euro to Irish contractors, according to Enterprise Ireland.

Frank Ryan, Chief Executive of Enterprise Ireland told the Financial Times he would be "very disappointed if Irish firms don't get half a billion euros in contracts out of the Olympics".

"The big names in Ireland such as Kingspan and CRH have a unique opportunity because they offer the scale and the cutting-edge technology that the UK will be looking for" Emanuel Carvalho, of Enterprise Ireland, also added. 

Many Irish builders have already been awarded contracts associated with the event, including J Murphy and Sons who has been clearing land and moving electric power lines.

Dundalk-based Anord Control Systems has been tasked with providing switch-gear for a new power network installed for the games.

May more firms are also hoping to get a significant slice of the €9bn Olympics pie up for grabs.

Martin Whelan, CIF's head of policy, said in the past 10 years Irish companies had built up a "huge capacity and expertise to deliver large-scale infrastructure projects".

Last November Enterprise Ireland held a Dublin conference, 'Building Towards London', which was attended by 160 Irish companies interested in seeking opportunities associated with the Olympic development project.