The Peter the Great Statue is a 98-metre-high monument to Peter the Great, located at the western confluence of the Moskva River and the Vodootvodny Canal. It was designed by the Georgian designerZurab Tsereteli to commemorate 300 years of the Russian Navy, which Peter the Great established. It was erected in 1997 and is the eighth tallest statue in the world. It weighs around 1,000 tons and contains 600 tons of stainless steel, bronze and copper. Since its inception, the statue has courted controversy. In November 2008, it was voted the tenth ugliest building in the world by Virtual Tourist. In 2010, it was included in a list of the world's ugliest statues by Foreign Policymagazine.