Maharashtra: The Adani Group may begin the Dharavi redevelopment project in Mumbai and is likely to invest Rs 12,500 crore, according to a report by Mint.
The Adani Group, led by industrialist Gautam Adani, had emerged as the highest bidder for the 259-hectare Dharavi Redevelopment Project and bagged it with its Rs 5,069-crore bid in the 2022 tender process.
Around two months ago, the Maharashtra government submitted its affidavit in response to a petition filed in the high court by the UAE-based Seclink Technologies Corporation, challenging the government's decision to award the project to Adani Properties Private Limited.
In the first tender issued in 2018, the petitioner company had emerged as the highest bidder with its Rs 7,200-crore bid.
The Maharashtra government told the Bombay High Court that the 2018 tender for the Dharavi redevelopment project was cancelled and a fresh tender was issued in 2022 because of several factors, including the COVID-19 pandemic and the Ukraine-Russia war that affected financial and economic affairs.
The state government's decision to cancel the 2018 tender and issue a fresh tender in 2022 with additional conditions was challenged in the high court by the United Arab Emirates-based firm.
The first tender for the redevelopment project was issued in November 2018, and bids were opened in March 2019. In the same month, an additional 45 acres was made available to the government by the Railways for the redevelopment project, the affidavit said.
However, in July, the Maharashtra government gave a go-ahead to the Adani Group to flag off the Dharavi redevelopment project.
The redevelopment of Dharavi, one of the biggest slums in Asia, throws open over 600 acres of prime land, but the project has met with hurdles over the last two decades.
Existing industrial units in Dharavi in Mumbai will get more space apart from a common facility centre and tax sops for five years as part of the area's redevelopment plan, Maharashtra Deputy Chief Minister Devendra Fadnavis had said.
With inputs from PTI
ALSO READ | Gautam Adani meets Bhutan king Jigme Khesar Namgyel Wangchuck, says 'We're excited to explore opportunities'
