The ArcelorMittal Orbit took 18 months to build, using 560 metres of steel. This time-lapse footage shows the sculpture taking shape beside the Olympic stadium. Steel was chosen for the ArcelorMittal Orbit because of its unique properties including strength, modular structure and advantages of weight and speed of construction.
As a tier-two sponsor of London 2012, ArcelorMittal committed to funding up to £19.6 million of the £22.7 million cost of the ArcelorMittal Orbit, with the outstanding £3.1 million provided by the London Development Agency. It has been estimated that the resulting visitor attraction will generate up to £10 million of revenue a year and has created up to 50 new jobs.
The ArcelorMittal Orbit will sit at the centre of the South Plaza in the Queen Elizabeth Olympic Park -- the new name for the Olympic Park when it reopens - and will give visitors 360 views of London's skyline and all the attractions of the park.