Gautam Adani Wins the Bid to Develop Mumbai's Dharavi SlumTop Stories

November 30, 2022 14:01
Gautam Adani Wins the Bid to Develop Mumbai's Dharavi Slum

Gautam Adani took over several businessmen and emerged as the richest Indian billionaire. Gautam Adani's Adani Enterprises won the bid to redevelop the India's largest slum in Mumbai, Dharavi. The bid was quoted at 612 million USD which is 50 billion rupees told the officials of the Adani Group. Dharavi is the largest slum of Asia and is crowded completely with poor families and cramped quarters. Dharavi is located in the financial capital of the country. Most of the residents have no drinking water or clean toilets. Several governments of Maharashtra had plans to develop Dharavi since the 1980s and plans are chalked out but they were never executed. Some of the governments even promised to provide a proper housing colonies for the people residing in the Dharavi slums.

DLF group quoted a bid of 20 billion rupees which is less than half of the quote of Adani Group. The redevelopment will cover 625 acres and it would be a mix of commercial and residential properties. The redevelopment of Dharavi is said to be the world's largest urban renewal scheme. Adani Enterprises is supplying electricity to Mumbai through Adani Transmission Limited. Adani Enterprises announced that it would raise 200 billion rupees for new shares. Dharavi redevelopment is the fourth project taken by Adani Realty in Mumbai and is the 24th project across the country as per the update from the Adani Group. Gautam Adani said that the group will invest more than 100 billion USD over the next decade.

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Tagged Under :
Gautam Adani  Adani Group  Dharavi slum