London Mayor Boris Johnson is planning a “must see” multi-million pound monument for the Olympic Park, it has been revealed.
Mr Johnson wants the artwork to be on the list of the capital’s biggest attractions alongside Big Ben and the London Eye.
A spokeswoman said: “This work is at an early stage and details will be announced when the projects are confirmed.”
It is understood a panel is drawing up a shortlist of contenders for the Stratford site in east London.
The Sunday Times reported that five artists are in contention including former Turner prize winner Anish Kapoor and Antony Gormley, who designed the Angel of the North.
The newspaper said the project will be funded by Britain’s richest man steel magnate Lakshmi Mittal.
London-based artist Paul Fryer submitted his entry, Transmission, about four months ago.
The 370ft pylon would be made from steel and stained glass, with two internal lifts carrying visitors up to a series of viewing platforms overlooking the park.
Mr Fryer said the pylon symbolised the transmission of power and energy but also acted as an environmental warning.
He said: “I’m fascinated by electricity and its use in the modern world. Electricity brought light into people’s lives.”