LONDON (AP) — Steel manufacturer ArcelorMittal has become an official sponsor of the 2012 London Olympics.
The company was unveiled Tuesday as a "tier two" domestic sponsor by London organizers.
ArcelorMittal is providing 16 million pounds ($23 million) for the construction of a 115-meter (377-foot) tower called "The Orbit." The 19-million-pound ($27 million) structure will be located in the Olympic Park near the main stadium.
Under the sponsorship deal, London organizers will benefit from ticket sales from visitors to the tower’s viewing platform. The tower is expected to be completed by May 2012.
ArcelorMittal’s Indian chairman Lakshmi Mittal says he wants to "give a little something back with this initiative to London, which has been my home for many years."
