The project is awaiting approval of the Kolkata Port Trust (KoPT).
This has been reported in thestatesman.com dated 6 October 2016.
The giant wheel is a pet project of Chief Minister Mamata Banerjee. The Kolkata Eye would provably have 36 air-conditioned capsules made of steel and glass and each of the capsules can accommodate eight people. It would rotate slowly to offer a bird’s eye view of the city.
It is a project of KMDA, under the department of state urban development, and will come up on Kolkata Port Trust (KoPT) owned land. KMDA and KoPT have formed a 50-50 special purpose vehicle (SPV) for this first-of-its kind giant wheel project in India which is leased out to a British firm for a period of 30 years. It would take people to a height of 100 meters and will take nearly half an hour to complete a full circle.
Image courtesy wikimediacommons.org
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