IOLTravel.co.za released pertinent details of the "big wheel" that I found most informative. The wheel will remain here for 6 months under a contract approved by the city. It is approximately 60m high, in comparison to the London Eye which is 135m in height. The cost will be about R70.00 a ride. Each ride lasts ±20 minutes with panoramic views of Table Mountain, Robben Island, Cape Town Stadium and the Paarl Mountains. Various pricing packages for families etc will be available.
On the right is what the completed wheel should look like, at night.
"The wheel has 36 enclosed air-conditioned capsules holding eight people. Each trip accommodates 288 people. Running daily from 10am until 10pm (with the possibility of extending running hours until midnight), the wheel could accommodate 15 000 riders a day. At night it is lit up by 2 million LED lights, which consume only two kilowatts of energy an hour."