Adani Group Wins Dharavi Redevelopment Bid

Three companies namely Adani Realty, DLF and Naman Group had submitted bids for the redevelopment project

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The Adani Group has won the bid for the Dharavi redevelopment project, which aims to transform the slum cluster in Mumbai.

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"The Adani group quoted Rs 5,069 crore for this project, followed by Rs 2,025 crore quoted by the DLF group. Only Adani and DLF qualified in the final bidding. The third, Naman Group, couldn't make it," said SVR Srinivas, CEO, Dharavi Redevelopment Project, quoted reports.

"It will be a township - a city within a city, with mixed land use, both commercial and residential," Srinivas told Reuters.

Three companies namely Adani Realty, DLF and Naman Group had submitted bids for the redevelopment project. The Maharashtra government aims to finish the project in the next 17 years and complete rehabilitation in the next seven years. More than 10 million sq ft is expected to come up as part of the Dharavi redevelopment project. The redevelopment was first raised in the 1980s, said media reports.

Dharavi is known to be a hub for several small-scale, unorganised industries that manufacture medicines, leather, footwear, and clothes. In January 2019 Adani lost the bid to Dubai-based infrastructure firm Seclink Technologies Corporation, however, the tender was not awarded following the decision to include Railway land in the redevelopment project.