Adani Group bags Dharavi Redevelopment Project as highest bidder

Tags: Economy/Finance Government Schemes State News

Gautam Adani-led Adani Properties on 29 November bagged the Dharavi redevelopment project, Asia's second largest slum colony, as the highest bidder.

Important facts

• Adani Properties, the highest bidder offered Rs 5,069 crore as its investment in the project.

• The Adani group quoted Rs 5,069 crore for this project, followed by Rs 2,025 crore quoted by the DLF group. 

• Dubai-based infrastructure firm Seclink Technologies Corporation turned out to be a successful bidder in January 2019 against Adani.

• Dharavi redevelopment will involve a massive investment of money upfront, amid tricky complications of land acquisition and rehabilitation. 

What is the Dharavi redevelopment project?

• Dharavi is only a short drive from India's richest business district, the Bandra-Kurla Complex, which has the largest concentration of commercial offices in the country.

• The slum, spread over 2.8 sq km, is home to an informal leather and pottery industry that employs over a lakh people.

• The state government had envisaged to convert this slum area into a cluster of skyscrapers with better urban infrastructure.

• It entailed resettling 68,000 people, including slum dwellers and those with commercial establishments.

• In 1999, the BJP-Sena government first proposed to redevelop Dharavi. 

• Thereafter, the Maharashtra government in 2003-04 decided to redevelop Dharavi as an integrated planned township, and an action plan for this was approved.