22 , March , 2023
In a recent development, Maharashtra Deputy CM Devendra Fadnavis has said the Adani group which has won the tender for Dharavi redevelopment will get the Letter of Intent (LoI) only after it establishes that it has the financial capability to execute the project.
He was replying after Congress MLA Varsha Gaikwad, whose constituency includes Dharavi, raised concerns about the project in the wake of Hindenburg Research's allegations of stock manipulation against the Adani group. Gaikwad also asked if a fresh tender will be floated for the project. Fadnavis asserted that the tendering process was transparent. There was a global tender and three parties responded to it. The bids of two parties were proper and the highest bidder among them was awarded the contract, he said.
“So it is incorrect to say that the process was flawed. The LoI has not been issued yet. This is because it is issued only after all the departments take that decision. There is one decision (yet to be made) from the Urban Development department after which the LoI will be awarded," Fadnavis said.
The Adani group emerged as the highest bidder for the 259-hectare Dharavi Redevelopment Project in November 2021. The group's bid of Rs 5,069 crore beat DLF's offer of Rs 2,025 crore. The tender mentions that the money would be paid upfront and a bank guarantee will be given (by the winning firm), Fadnavis stated.
(WITH INPUTS TAKEN FROM PTI)
