Bloomberg News

ArcelorMittal’s $36.6 Million Tower Inaugurated in Olympic Park

May 11, 2012

The view from the new ArcelorMittal Orbit tower in London, looking toward Canary Wharf. The tower is taller than Big Ben and the Statue of Liberty. Photographer: Farah Nayeri, Bloomberg

The view from the new ArcelorMittal Orbit tower in London, looking toward Canary Wharf. The tower is taller than Big Ben and the Statue of Liberty. Photographer: Farah Nayeri, Bloomberg

A 22.7 million pound ($36.6 million) red tower designed by sculptor Anish Kapoor and sponsored by ArcelorMittal (MT), the world’s biggest steelmaker, was inaugurated today in the 2012 London Olympics park.

The ArcelorMittal Orbit is taller than Big Ben and the Statue of Liberty and twice as high as Nelson’s column in London’s Trafalgar Square. Like an oil rig twisting around itself, it is a spiraling 114.5-meter (377 foot) lattice of tubular steel.

Mayor of London Boris Johnson persuaded ArcelorMittal to contribute as much as 19.6 million pounds toward the cost of the tower, which was shown to reporters before the 2012 London Olympic Games, which run from July 27 to Aug. 12. The Orbit will have a two-level space at the top with a restaurant and a viewing gallery, to which high-speed elevators will take as many as 700 visitors an hour.

“This 114.5-meter attraction to trump rivals the world over is a calling card for investment in east London,” Mayor Johnson said, describing the Orbit as “a symbol of prosperity and growth.”

Today’s Muse highlights include: Lewis Lapham on history, Zinta Lundborg’s New York weekend.

To contact the writer on the story: Farah Nayeri at farahn@bloomberg.net.

To contact the editor responsible for this story: Manuela Hoelterhoff at mhoelterhoff@bloomberg.net.


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