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HomeCURRENT AFFAIRSBUSINESSGautam Adani's Ambitious Endeavour! Transforming Mumbai's Dharavi Slum with a $610 Million...

Gautam Adani’s Ambitious Endeavour! Transforming Mumbai’s Dharavi Slum with a $610 Million Project

One of Asia's largest informal settlements, the Dharavi slum in Mumbai, is being transformed as part of a $610 million initiative by Indian billionaire Gautam Adani.

Gautam Adani:Indian billionaire Gautam Adani has established a new business to handle this work and transform the Dharavi slum in Mumbai. The Mumbai Slum Rehabilitation Authority and Gautam Adani’s company Adani Properties reportedly launched this joint venture. Through this, Dharavi will now undergo development.

Adani Group’s Ambitious Dharavi Redevelopment Project Gains Momentum

In order to rehabilitate Dharavi, one of the biggest slum areas in Asia, Gautam Adani has reportedly made progress. In July, Adani Group submitted a $610 million offer to win the Dharavi redevelopment project. The Dharavi Slum, which is roughly three-quarters the size of Central Park in New York, was shown in Danny Boyle’s 2008 Oscar-winning film Slumdog Millionaire.

Adani Group Pushes Forward with Dharavi Redevelopment Despite Legal Challenges

A spokesman for the Adani Group acknowledged the creation of the joint venture Dharavi Redevelopment Project Private Limited, providing additional information. In addition, he claimed that the reconstruction of Dharavi, which is home to around 10 lakh people, has been delayed for many years. The Adani Group has still made this significant move at a time when the Dharavi project is involved in a legal dispute.

Legal Dispute Over Dharavi Redevelopment Bid Process Involves Adani Group and SecLink Technologies Corporation

In fact, along with Adani Group, Dubai’s SecLink Technologies Corporation was also among the bidders for the Dharavi redevelopment project. Seclink alleged that the Maharashtra government improperly canceled the original 2018 bidding process for this project, so that Adani Group could win the bid by restarting it. However, both the Maharashtra government and Adani Group have rejected these allegations as baseless.

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