Billionaire Gautam Adani forms key JV to redevelop one of Asia’s biggest slums Dharavi
The setting up of the JV is a critical step and assumes significance as it comes as Adani faces an ongoing legal challenge from a rival bidder, Dubai-based SecLink
According to spokesperson from Adani group,
Adani group Dharavi redevelopment’s next step would be the submission of a master plan by the Adani group which will have key details including planning on infrastructure, rehabilitation and public amenities.
Notedly, Indian billionaire Gautam Adani’s property unit has formed a joint venture with Mumbai’s slum rehabilitation authority to redevelop the Dharavi, a key step towards rebuilding one of Asia’s biggest slums that is mired in legal controversy.
A spokesperson from Adani Group confirmed the formation of the entity, Dharavi Redevelopment Project Pvt Ltd, without elaborating further. Redevelopment of Dharavi, where 1 million people live, has been delayed for decades.
The setting up of the JV is a critical step and assumes significance as it comes as Adani faces an ongoing legal challenge from a rival bidder, Dubai-based SecLink Technologies Corporation.
News Edit K.V.Raman
