Maharashtra gives its nod to Adani’s Dharavi project

livemint.com:

Mint has reviewed a copy of the letter termed a “government resolution." The notification marks the first in a series of approvals required for the slum redevelopment project to proceed. It comes following significant political upheaval in Maharashtra, where Nationalist Congress Party (NCP) leader Ajit Pawar has joined the state government, assuming the role of the state’s deputy chief minister and finance minister, after breaking ranks with his uncle Sharad Pawar. However, Adani may get the remaining approvals for the project in another month.

The letter said: “Government’s decision: As the main partner for the implementation of Dharavi Redevelopment Project under Dharavi Notified Area, the maximum bidder is (mainly) Adani Properties Pvt. Ltd. The tender of ₹5,069 crore is being approved for the appointment." The housing department further decided to give the letter of acceptance in this regard and for setting up the special purpose vehicle (SPV) model for Dharavi redevelopment project.

However, before an SPV can be formed, it will need more approvals from the city’s municipal authorities and urban development department. After several failed attempts by multiple administrators in the past, if the government’s latest decision gets implemented, the Adani group, which also runs the airport in the city, will be contracted to transform the slum into apartments, offices and malls. Mumbai’s administrators have struggled for decades to modernize Dharavi.