India

Mumbai’s Dharavi: Adani Group Wins Bid To Redevelop One Of Asia’s Largest Slum Clusters

By
OB Bureau

New Delhi: Adani Group has won the bid for the redevelopment of Mumbai’s Dharavi, one of the largest slum clusters in Asia. Financial bids for the global tender floated on October 1 for the Dharavi redevelopment project were opened on Tuesday.

“We got three bids of which we opened two financial bids of Adani and DLF as Naman Group did not qualify in the technical bidding. The bid by Adani Group was for Rs 5,069 crore and DLF was Rs 2,025 crore. We will now further go with the approval from the state government and also form a special purpose vehicle (SPV) for the redevelopment of Dharavi,” said SVR Srinivas, Chief Executive Office of Dharavi Redevelopment Project as reported by Moneycontrol.

Three companies- Adani Realty, DLF and Naman Group- had submitted bids for the redevelopment of Dharavi and rehabilitation of slum dwellers. Several attempts were made in the last 15 years for the redevelopment of Dharavi but the project will take off now.

The Maharashtra government hopes to finish the project in the next 17 years and complete rehabilitation in the next seven years. Overall, more than 10 million square feet is expected to come up as part of the Dharavi redevelopment project, Moneycontrol reported.

Besides Indian firms, companies from the UAE and South Korea had also shown interest in the project during the pre-bid meeting on October 11. The state government has made at least four attempts by floating bids for the Dharavi redevelopment in the last 15 years. However, the bids never materialised.

Dharavi is located in Central Mumbai in close proximity to the commercial hub, Bandra Kurla Complex, and south Mumbai. Spread across 300 acres, Dharavi is one of the most densely populated slums in the world. The area is a hub for several small-scale, unorganised industries that manufacture medicines, leather, footwear, and clothes.

OB Bureau

Recent Posts

Odisha Govt To Snap Power Supply To People Laying Electric Trap For Wild Animals

Bhubaneswar: In a step towards preventing poaching of wild animals through electric trap, the Odisha…

November 27, 2024

Dhanush Sues Nayanthara, Vignesh For 3- Second Clip In Netflix Documentary

Chennai: After a war of words on social media over a 3-second video clip in…

November 27, 2024

These Localities In Bhubaneswar Declared No-Fly Zone For PM Modi, Amit Shah’s Odisha Visit

Bhubaneswar: The Commissionerate Police has declared several key localities in Bhubaneswar as no drone/no flying…

November 27, 2024

Will Odisha’s BJP Govt Vent Its Anger On Sujata Karthikeyan Or Remain Silent?

Bhubaneswar: Odisha’s senior IAS officer Sujata Karthikeyan joined duty on Wednesday after remaining on leave…

November 27, 2024

Kandhamal Deaths Due to Food Poisoning, Not Starvation, Says Odisha Minister In Assembly

Bhubaneswar: A day after the Opposition created a ruckus in the Odisha Assembly over the…

November 27, 2024

‘I Won’t Be An Obstacle’: Eknath Shinde Pledges Support To BJP In Maha CM Decision

Mumbai: Amid the continuing suspense over next Maharashtra Chief Minister, Shiv Sena chief Eknath Shinde…

November 27, 2024

Shah Rukh Khan Compares His Journey To Stardom With Mufasa’s Journey In ‘The Lion King’

Mumbai: Bollywood King Shah Rukh Khan’s journey to stardom wasn’t a cakewalk. From a common…

November 27, 2024

Farmers Forced To Distress Sale Of Vegetables & Fruits For Lack Of Cold Storage In Odisha’s KoraputIn

Koraput: With the proposal to construct a cold storage of 50-ton capacity yet to take…

November 27, 2024