There is a 27-foot tall Jalakanyaka (mermaid) at the park in Kollam Beach dedicated to Mahatma Ghandi.  ( map )

Mermaid at Kollam Beach

Mermaid statur at Kollam Beach, India

It is located only about 40 miles from the giant mermaid statue on Shankumugham Beach, and is most likely the second-largest mermaid sculpture in the world. It was planned in 2000 and the sculptor Shanthanu was commissioned to create it, commencing in 2003. Citing a lack of funds Shanthanu stopped work, and the statue was completed in 2005 by Vijayan V. Chavara, and unveiled on August 2, 2005.

The story is that the mermaid is melancholically looking out to sea after having been cursed to live on land due to falling in love with a sailor.India seems to have a penchant for large mermaid sculptures.   The three biggest mermaid statues I know of are all in India:

References:
More data is needed on this mermaid sculpture.   If you have relevant information, please contact us.
http://en.wikipedia.org/wiki/Kollam_Beach
http://www.thehindu.com/2005/08/01/stories/2005080101000200.htm
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