The Olympic Park Legacy Company has today launched a formal expressions of interest (EOI) process for operating the Anish Kapoor and Cecil Balmond designed sculpture which won the competition to create an accessible piece of art for the future Queen Elizabeth Olympic Park.

Sitting between the Stadium and the Aquatics Centre, the 114m-tall ArcelorMittal Orbit will have two observation floors, giving visitors a stunning view across London’s skyline.

The chosen operator would run the venue on behalf of the London Organising Committee of the Olympic and Paralympic Games (LOCOG) during Games-time, and afterwards, would be responsible for ticketing, marketing and events, hospitality and catering, the gift shop, reception and internal security for the attraction on behalf of the Legacy Company. The venue has the potential to attract up to one million visitors in its first year.

The ArcelorMittal Orbit could generate up to £10m per year in revenue through ticket sales, catering, private functions, retail and merchandise, bringing around 50 new jobs to the future Queen Elizabeth Olympic Park.

The Legacy Company aims to appoint an operator by June 2011, with the aim of managing the fit out of the venue. It is anticipated that the contract will run for ten years.

Andrew Altman, Chief Executive of the Olympic Park Legacy Company, said:

“The operator of the ArcelorMittal Orbit will be in charge of running what we hope will be one of the world’s most spectacular visitor attractions. Combining cutting-edge design with stunning views of the London skyline, the sculpture could attract up to one million visitors in its first year of operation, and will be an iconic symbol of future Queen Elizabeth Olympic Park.

“With the changing view of the city by day and night, the ArcelorMittal Orbit has the potential to be the ‘must-see’ attraction in East London.”

Interested parties have until Friday 28th January 2011 to make a formal bid by completing a Pre-Qualification Questionnaire (PQQ).

A Memorandum of Information (MOI) is available with the PQQ to help formulate bids. This provides background on the ArcelorMittal Orbit and outlines the Legacy Company’s ambition for the future Queen Elizabeth Olympic Park.

The ArcelorMittal Orbit’s design seeks to challenge the traditional concept of a tall structure, forming instead an ‘orbital’ exploration in space. The sculpture will consist of a continuous looping lattice of tubular steel. The work, which will use 1,400 tonnes of steel to create, is considered to be at the forefront of architecture and engineering.

Visitors will be able to take a trip up the structure in a lift and will have the option of walking down the spiraling staircase and experience its changing form.

The ArcelorMittal Orbit is under construction and is due to be constructed by early 2012. It will be licensed to LOCOG between May and October 2012 before being reopened in May 2013 for the public.

Plans for the ArcelorMittal Orbit form part of the Legacy Company’s ambition for the future Queen Elizabeth Olympic Park to become a major destination – a new part of London which will include new housing, schools, health centres and offices, along with the running of venues such as the Stadium, Aquatics Centre, Multi-Use Arena and Press and Broadcast Centres.