Abstract: A method of and an arrangement for building a cylindrical hollow structure such as a fluid storage tank, wherein lower and upper structural units to form lowermost and uppermost side wall portions of the hollow structure have helical upper and lower edges, respectively, and the upper structural unit is stepwise rotated about its axis and moved upwardly over the lower structural unit by the use of an open-end chain of link units supporting the upper structural unit in weight transmitting relationship to the lower structural unit through carriers rollably mounted on the helical upper edge of the lower structural unit while applying additional structural members to the upper structural unit for forming part of an intermediate side wall portion of the hollow structure and thereafter applying additional structural members to the helical lower edge of the intermediate side wall portion being constructed.