The build will see construction of an extra 2,000 seats in the “arena bowl” area, bringing the total capacity to 14,000.

Rockers AC/DC were the last band to play the arena in its current format in April and work has now begun on catering facilities, seating and toilets, as well as improvements to backstage areas.

Phase one of work is still underway on the former Forum, and will run in parallel to that on the main arena. New hospitality bars, restaurants and a party deck are near completion ahead of a relaunch in October.

“The new arena bowl will be in the shape of a horse shoe with brand new seating in a design focus that will create the ultimate entertainment experience for everyone,” said The NEC Group MD of arenas Phil Mead.

Birmingham City Council provided a loan to The NEC Group of £25million for the redevelopment, and Regional Development Agency Advantage West Midlands contributed £4million.

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The London Summit on stability, growth and jobs is now underway at Excel London. Bringing together leaders of the world’s advanced and emerging economies, including the G20, and representatives of international financial institutions, the summit will highlight Excel London’s status as a premier meetings venue.

Commenting on the London summit, Excel London managing director David Pegler said: “We have been steadily attracting an increasing number of international and high-profile clients to our venue, many of which have rated events at Excel as their most successful events with the highest delegate and visitor numbers. The selection of Excel London as the venue for the London Summit is testament to our international standing as a premier meeting and events destination.”

Pegler added: “This validates our £160m investment in expanding our venue exhibition hall capacity and building the London International Convention Centre at Excel.”

In spring 2010, Excel will open a 5,000-seat auditorium, a banqueting hall for 3,000 and 17 meeting rooms for up to 2,000 delegates.