Olympics 2012: ArcelorMittal Orbit officially unveiled today at the Olympic Park

Olympic Orbit, the looping red tower that looms over London’s Olympic Stadium, is being officially unveiled today.

The completed steel sculpture – known as ArcelorMittal Orbit – stands at the heart of the Olympic Park.

It was designed by Turner Prize-winning artist Anish Kapoor and structural designer Cecil Balmond.

From the end of July, visitors will be able to climb on the £22.7 million ($36 million) structure to take in panoramic views across London’s skyline.

Tickets will cost £15 ($24) and £7 ($12) for children. Anish Kapoor described the charges as “a hell of a lot of money”

“This thing has to be paid for, but there’s a push to keep that cost as low as possible,” he said.

After the Olympics, the public won’t be able to access the Orbit until Easter 2014 – when the South Plaza is opened up.

Ticket prices have not been announced for the full opening from 2014.

Members of the media were given a sneak preview of the experience on Friday morning.

At 114.5 metres (376 ft), the Orbit is the tallest sculpture in the UK – twice the height of Nelson’s Column.

The tangled steel lattice – 63% of which is recycled steel – incorporates the five Olympic rings.

“We wanted to make something that was kind of a deconstruction of the tower,” said Anish Kapoor.

“Towers are almost always symmetrical,” he continued, saying the Orbit’s twisted loops were “the refusal of a singular image”.

It is hoped the tower will help to attract 1 million visitors a year to Stratford’s Olympic Park.