The GBP19 million ($28.7 million approx) ArcelorMittal Orbit, which is touted as the tallest artwork in the UK, is named in honor of its sponsor, steel magnate Lakshmi Mittal, who is Britain’s wealthiest man. Turner Prize winning Anish Kapoor is renowned for creating unusual sculptures and vividly colorful artworks.
Kapoor worked along with structural designer Cecil Balmond of Arup on the project. The sculpture consists of a continuous looping lattice of tubular steel. It is 22m taller than the Statue of Liberty in New York and offers unparalleled views of the entire 250 acres of the Olympic Park and London’s skyline from a special viewing platform.
Mittal will pay up to GBP16 million ($24.2 million approx) towards the scheme, and the London Development Agency will fund GBP3.1 million ($4.6 million approx).
The piece of art will remain as an iconic visitor attraction in the park permanently. The sculpture will be placed in the southern part of the Olympic Park between the Stadium and Aquatics Centre and will open in time for the 2012 games. The Olympic Park Legacy Company will take ownership and run the visitor attraction.
