The sculpture is the tallest of its kind in the UK and will accommodate up to 5,000 visitors a day, each with the opportunity to take the lift up to the public viewing platforms and down using the 455-step spiral staircase.
"It would have boggled the minds of the Romans. It would have dwarfed the aspirations of Gustave Eiffel, and it will certainly be worthy of the best show on earth, in the greatest city on earth.
"And as the final giant steel loop is swung into place, lifting the ArcelorMittal Orbit to its full height, we are truly witnessing the most significant iconic addition to London’s skyline for decades.”
Estimates suggest that the venue will generate up to £10 million of revenue per year and create up to 50 new jobs once the dust has settled on the Games.
An artist's impression of how the Orbit will look in Games-time