Rio de Janeiro, Apr 21 (IANS): Football World Cup 2014 officials have insisted Maracana Stadium's redevelopment remains on target after construction company Delta reportedly withdrew from the project.

Delta, which is being investigated by Brazil's federal police for its alleged involvement in an illegal gambling ring, this week failed to make payments of $3.7 to the Maracana Rio 2014 constructors' consortium.

The funds were to be used to pay suppliers and cover operation costs, Xinhua reported.

A Maracana press spokesperson said work on the stadium, still less than 50 percent complete, would, however, finish on time.

Delta president Fernando Cavendish said negative publicity that had surrounded the company would leave it "bankrupt".

"When the media comes with this sort of intensity there is an automatic reaction," Cavendish said.

The consortium has a commitment with FIFA to have the stadium ready by February next year.