AP reported that 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 GBP 16 million for the construction of a 115 meter tower called The Orbit, 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.

Mr LN Mittal chairman of ArcelorMittal said that “He wants to give a little something back with this initiative to London, which has been my home for many years.

(Sourced from AP)