Finally: Adani, Dubai firm bid for Dharavi

The Dharavi Redevelopment Project (DRP) has finally found takers – Adani Infrastructure and Dubai-based SecLink (and its consortium) have submitted their Envelope 1 for scrutiny.

Global tenders for selection of a lead partner for DRP were floated first in January 2016, and then in November 2018 at the base price of Rs 3,150 crore. The last date of submission, December 28, was extended to January 8 and finally to January 15 due to lack of response. Dharavi is considered a pulse point due to its proximity to the Central business district of Bandra Kurla Complex and the airport.

The response garnered by the project has buoyed Chief Minister Devendra Fadanvis. "I am very, very hopeful," he said.

"There were two bidders in all," says SVR Srinivas, CEO of the Dharavi Redevelopment Project, "This is the biggest positive news for the project and it was only possible because of the government's active participation and the Special Purpose Vehicle (SPV) that it set up." Next step is technical and financial scrutiny of the bids.

The redevelopment project, covering 240 hectares that constitute Asia's largest slum – has been priced at above Rs 20,000 crore. The base price is separate from the Rs 400 crore equity earmarked for the Special Purpose Vehicle floated by the government.

No Takers

• Global tenders for lead partner were floated first in January 2016 and then again in November 2018
• Becasue of lack of response, the last date of submission, December 28, was extended to January 8 and then to January 15