Melbourne is following London by getting its own huge eye over the city.
Soaring 120 metres above the Docklands precinct, the Southern Star observation wheel will offer a bird's-eye view of Melbourne in late November, when the switch is officially flicked on.
The privately-funded attraction, which is costing in excess of $110 million is the world's third giant wheel, modelled on the London Eye, and is expected to draw more than a million visitors a year.
But the state's Tourism Minister, Tim Holding, claimed it isn't a rip-off of the original London icon, or even the Singapore Flyer which opened earlier this year.
"This is original, let's be clear about it," Mr Holding said, pointing out the originality of the wheel's world-first rigid steel structure.
The wheel will open to the public on 28 November and is the biggest tourism instalment to hit Australia in almost 20 years, according to its creators.
"This is the largest investment in tourism product in Australia since the opening of Movie World in 1990," Southern Star chairman Brent Maybury said.
The 40-storey high wheel is the centrepiece of the new Waterfront City development and features 21 floor-to-ceiling glass gondolas.
The half-hour ride will carry up to 420 people at a time, offering 360 degree views stretching as far as Geelong on a clear day.
Victorian Premier John Brumby said the wheel would lure up to 1.5 million visitors a year, half of whom are expected to come from interstate and overseas.
"That's a huge number of visitors, 30,000 a week, it will make Southern Star one of Melbourne's premier tourist attractions and the spin-offs I think for our tourism industry are going to be quite extraordinary," Mr Brumby said.
Tickets cost $A29 for adults and $A17 for children.
