March 27 (Bloomberg) -- Israeli billionaire Sami Ofer has given 20 million pounds ($40.4 million) to London's National Maritime Museum in what the museum said could be the biggest single donation by an individual to a U.K. cultural project.

The money will help build a 35-million-pound new wing on the museum's ``Maritime Greenwich'' World Heritage Site, which will now be completed in time for the 2012 London Olympics, the museum said in a press release.

``This generous donation by Mr. Ofer will help to ensure that current and future generations understand better the crucial role played by the sea in our history and the lives of those who depended upon it,'' U.K. Prime Minister Gordon Brown said in the press release.

During World War II, Ofer served in the Royal Navy in the Mediterranean, and later founded an international shipping group, the release said.

Last Updated: March 27, 2008 07:26 EDT