10-10-2007 14:00
The tower, situated on a volcanic island in Reykjavik's harbour, is engraved with the words "imagine peace" in 24 languages.
100,000 people from all over the world will put a wish in a capsule which will be buried around the tower.
Ono chose to erect the tower in Iceland because of the country's environmental policies and reputation as a peaceful nation.
The sculpture will be illuminated each year on Lennon's birthday until the anniversary of his death on December 8. It will also light up on New Year's Eve and the first week of spring.
Lennon was shot dead outside his New York apartment building by Mark David Chapman in 1980.
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