Cathy Priestner Allinger called the schedule \Cathy Priestner Allinger called the schedule "a major milestone". (Frank Gunn/Canadian Press)

Hourly event schedules for the 2010 Winter Olympics were released by the Vancouver Olympic Games Organizing Committee on Saturday, marking a major step forward in preparations for the upcoming Olympic and Paralympic Winter Games.

VANOC announced that the executive board of the International Olympic Committee approved the Vancouver Olympic schedule from Beijing, where it is preparing for the upcoming 2008 Summer Games. The hourly schedule for the Paralympic Winter Games was approved by the International Paralympic Committee in 2007.

"This is a major milestone we can share with our sport and broadcast partners who worked closely with us to develop a balanced Games schedule that satisfies the respective International Sport Federations, television audiences around the world and spectators who will attend the Games," Vanoc executive vice-president Cathy Priestner Allinger said in a statement.

The opening ceremony will take place at BC Place on Feb. 12 at 9 p.m. ET., while the games will close in the same venue on Feb. 28 at 5:30 p.m. ET.

The final sporting event of the Games will be the men's gold-medal hockey game, which goes Feb. 28 at 3:15 p.m. ET at General Motors Place.

With files from the Canadian Press