Seclink Group, that emerged as the frontrunner in the first bid, will bid once again; but under another name.
If speculations are to be believed, the state government might call for fresh tenders for the Dharavi Redevelopment Project.
When contacted Chief Minister Devendra Fadanvis for confirmation, he said the government has sought an opinion from the Advocate General after which the further decision would be taken.
According to sources, the rebid was on account of the time-consuming process of acquiring nearly 45 acres of Railway-owned land which was included in the project.
Seclink Group, that emerged as the frontrunner in the first bid, will bid once again; but under another name.
This time it will quote two to three times higher than their previous bid. Seclink finished ahead in the tendering with a quote of Rs 7,200 crore; this time they might quote around Rs 20,000 crore. Their aim is to quote high so that no other firm can match their amount.
Hiten Shah, one of the directors of Seclink, said, "I cannot reveal the exact amount, but it will be two-three times higher than our current bid amount. However, we are hopeful that the government will consider our first bid and allow us to carry out the redevelopment of Dharavi. The project, for us it is not a financial proposition, it is a social one."
Towards the end of last year, Dharavi Redevelopment Project floated global tenders. However, there were only two bidders for the global tender when it opened in February — the Adani Group and the Dubai-based SECLINK group. While Seclink group become a frontrunner, quoting Rs 7,200 crore, the second bidder was Adani who had bid Rs 4,500 crore. However, since January no decision has been taken yet on who to award the tender.
Dharavi is spread over 240 acres of land in Central Mumbai and is one of the biggest slums in the continent. With elections for the state assembly close by, it is expected that the government will take a quick decision on the redevelopment issue. It is close to eight months since the government floated the tender. The difference between earlier approaches and this one was, that it is expected that the government will be actively part of the redevelopment. The state had announced that it will float a Special Purpose Vehicle for the redevelopment of Dharavi where the lead partner, when forms the SPV, will have 80% equity (Rs 400 crore) while the government will hold 20% equity (Rs 100 crore).
Frontrunner
Seclink Group, that emerged as frontrunner in the first bid, will bid once again. This time it will quote two to three times higher than their previous bid. Last time, the group quoted Rs 7,200 crore; this time they might quote around Rs 20,000 crore
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