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Adani Group has won the bidding for the Dharavi redevelopment project, which aims to transform Mumbai’s slum cluster.
“The Adani group has quoted Rs 5,069 crore for this project, followed by Rs 2,025 crore quoted by the DLF group. Only Adani and DLF qualified for the final bidding. The third, the Naman group, could not make it,” reports quoted SVR Srinivas, Executive Director, Dharavi Redevelopment Project as saying.
“It will be a town – a town within a town, with mixed land use, both commercial and residential,” Srinivas told Reuters.
Three companies namely Adani Realty, DLF and Naman Group submitted bids for the redevelopment project. The Maharashtra government aims to complete the project in the next 17 years and complete the rehabilitation in the next seven years. More than 10 million square feet is expected to come up as part of the Dharavi redevelopment project. Redevelopment first began in the 1980s, according to media reports.
Dharavi is known to be a hub for several small, unorganized industries that manufacture medicines, leather, footwear and clothing. In January 2019, Adani lost the bid to Dubai-based infrastructure firm Seclink Technologies Corporation, but the tender was not awarded following the decision to include railway land in the redevelopment project.