Sculpture, London

The Mayor of London, Boris Johnson, and Lakshmi Mittal, Chairman and CEO of ArcelorMittal, today unveiled the artist and design chosen to create a spectacular new visitor attraction in the Olympic Park.

Award winning London-based artist Anish Kapoor has been given the commission of a lifetime to design the spectacular new public attraction in the Olympic Park. The stunning artwork, to be entitled 'The ArcelorMittal Orbit', will ensure the Park remains an unrivalled visitor destination following the 2012 Games, providing the key Olympic legacy Mayor Boris Johnson envisaged for the East End.

The breathtaking sculpture – thought to be the tallest in the UK – will consist of a continuous looping lattice of tubular steel. Standing at a gigantic 115 metres, it will be 22 metres taller than the Statue of Liberty in New York and offer unparalleled views of the entire 250 acres of the Olympic Park and London's skyline from a special viewing platform. Visitors will be able to take a trip up the statuesque structure in a huge lift and will have the option of walking down the spiralling staircase.

One of the world's most distinguished contemporary artists, Turner Prize-winning Anish Kapoor studied in London, where he is now based. He is well known for his use of rich pigment and imposing, yet popular works, such as the vast, fleshy and trumpet-like Marsyas, which filled the Tate's Turbine Hall as part of the Unilever Series, the giant reflecting, pod-like sculpture Cloud Gate in Chicago's Millennium Park and his recent record-breaking show at the Royal Academy, the most successful exhibition ever presented by a contemporary artist in London.

Anish Kapoor's proposal has been developed in collaboration with one of the world's leading structural designers, Cecil Balmond of Arup. Balmond, who trained and lives in London, is known for his innovative work on some of the greatest contemporary buildings in the world, such as the CCTV building in Beijing, as well as numerous Serpentine Gallery pavilion commissions. The two began working together on the Marsyas project in 2002 and have become renowned for their ambitious, large-scale public art projects.

ArcelorMittal will fund up to € 18.1 million of the € 21.6million project with the outstanding balance provided by the London Development Agency. The unveiling also marks ArcelorMittal's announcement to become a tier two sponsor of the Olympic and Paralympic Games, to support the infrastructure and success of 2012.

The Mayor of London Boris Johnson and the Olympics Minister Tessa Jowell agreed the commission in partnership with Mr Mittal after bringing together a panel from the art and design world to advise on a long list of proposals. Anish Kapoor's team made an outstanding proposal that would be accessible and leave a fitting 2012 legacy.

Anish Kapoor said: 'I am deeply honoured to be invited to undertake this challenging commission. I am particularly attracted to it because of the opportunity to involve members of the public in a particularly close and personal way. It is the commission of a lifetime.'

London Mayor Boris Johnson said: 'Long after the Games are over our aim is to have a stunning spectacle in east London that will be recognised around the world. I'm thrilled that when visitors from every corner of the globe plan trips to our must-see attractions they will now eagerly include the ArcelorMittal Orbit! It will be an internationally acclaimed family attraction and I would like to thank Mr Mittal for his generous support. Anish Kapoor's inspired art work will truly encapsulate the energy and spirit of London during the Games and as such will become the perfect iconic cultural legacy.'

Lakshmi Mittal, CEO of ArcelorMittal, commented: 'The Olympic Games are one of the few truly iconic global events. I was immediately excited by the prospect of ArcelorMittal becoming involved because ArcelorMittal is a global company with operations in more than 60 countries. And as someone who lives in this great city, I remember the great excitement felt when it was announced that London had been selected to host the 2012 Olympic and Paralympic Games. We set out to create a transformational piece of art that will be an iconic symbol for the Olympics and also a new landmark that will endure long after the Games themselves. Everyone at ArcelorMittal is delighted with the outcome of the ArcelorMittal Orbit. London will have a bold, beautiful and magnificent sculpture that also showcases the great versatility of steel.'

The attraction will stand in the southern part of the Olympic Park between the Stadium and Aquatics Centre and will open in time for the 2012 Games. After completion, the Olympic Park Legacy Company will take ownership and run the visitor attraction.