Adani imbroglio: MVA, locals worry over fate of mega Dharavi revamp project

Mumbai, Feb 2 (IANS) As the Adani Group battles its current crisis on multiple fronts, the Maharashtra Congress, Shiv Sena (UBT) and residents of Dharavi on Thursday raised questions over the fate of the ambitious redevelopment project for Asia’s biggest slum.

In end-November 2022, the state government had finalised Adani Properties Ltd.’s bid to invest Rs 5,069 crore in the Dharavi redevelopment mega project.

At that time, the Metropolitan Commissioner of Mumbai Metropolitan Region Development Authority (MMRDA), S.V.R. Srinivas, had said that the proposal would be sent for the state government’s approval, a special purpose vehicle would be formed, and if all goes well, “the project shall kick-start by February 2023”.

When his reactions were sought again on Thursday, Srinivas said that he would not like to comment on the matter right now, “maybe after 2-3 days”.

However, state Congress General Secretary Sachin Sawant feels that all is not well considering the nosediving of Adani Group shares and its probable cascading effect on the Indian economy.

“The Maharashtra government must clarify its stand on the Dharavi redevelopment project. Will it allow the fate of lakhs of people to be connected to a company whose fate itself seems to be in jeopardy,” Sawant asked.

Shiv Sena (UBT) national spokesperson Kishore Tiwari claimed that the erstwhile Maha Vikas Aghadi (MVA) government was ‘deliberately toppled’ (in June 2022) so that the Adani Group could be given various big projects.

“Why just Dharavi? What about the future of the Navi Mumbai International Airport and other major projects which have been given to the Adani Group? The Centre and the Maharashtra government must immediately clarify and cancel the allotments,” Tiwari demanded.

The Dharavi Rehabilitation Committee (DRC) representing the local residents is virtually panicking over the fast-paced developments in the financial sector which are grabbing gloomy headlines daily.

“The Adani Group’s reliability and credibility is now in serious doubt… We feel that they may not be able to take up and complete this project on time. So, we are asking the Maharashtra government to re-tender it and give it to another party,” DRC President Raju Korde told IANS.

A meeting of the DRC shall be held later on Thursday night to finalise the strategy, besides writing to the state government to call for re-bids and award the project to a financially sound investor or consortium, he added.

In fact, in mid-January, Chief Minister Eknath Shinde had brought the Dharavi revamp proposal to the global centre-stage in Davos, where he extolled it as “the largest public-private-partnership (PPP) real estate programme for slum redevelopment”.

Terming it as an “environment-friendly project”, Shinde had said that around 56,000 families would be rehabilitated there with free homes of 300 sq ft to each slum-dweller there”, wowing an influential audience at the World Economic Forum held in the ski-resort in Switzerland.

With an estimated timeline of around 15 years, the project – bedeviled by many problems and failed attempts for a makeover for over 15 years – will see construction of over 10 million sq ft, giving a total face-lift to the 520-acre locality.

Dharavi – literally meaning ‘quicksand’ – is notorious as the dirty underbelly of Mumbai, housing over 10 lakh people crammed into a 2.1 sq km corner. But it is supposed to transform itself from an ugly duckling to a glittering district with swank buildings, wide roads, residential and commercial areas, schools, hospitals, gardens, playgrounds etc. planned there. – IANS

Centre’s debt/liabilities at 57.3% of GDP

New Delhi: The total amount of the Central government debt or liabilities is estimated at about Rs 155.8 lakh crore (57.3 per cent of GDP), as on March 31, the...

Delhi govt tables Eco Survey, per capita income grew by 14.18% in 2022-23

New Delhi: The national capital's per capita income grew by 14.18 per cent at the current prices in 2022-23 to Rs 4,44,768 compared to Rs 3,89,529 during 2021-22, the Delhi...

Stock markets across Asia fall as global banking fears widen

Hong Kong: Stock markets across Asia fell on Thursday as troubles at international banking giant Credit Suisse intensified fears of a wider bank crisis. Major indexes in Japan, Hong Kong...

Two US bank failures not to impact banks in India, APAC: Moody’s

Chennai: The successive failure of two private banks in the US -- Signature Bank and Silicon Valley Bank -- though would result in tightening of liquidity in the global debt...

Scientists agree that money can buy happiness

New York, March 13 (IANS) People get happy as they earn more, according to a new study which overturns the dominant thinking that money cannot buy happiness. The study published in...

‘Banking system is safe’: Biden reassures markets, people

Washington: US President Joe Biden on Monday attempted to reassure Americans that the banking system will hold up, media reports said. "Thanks to the quick action in my administration over the...

Delhi’s MLAs get over 66% salary hike

New Delhi: Ahead of the Delhi Budget session scheduled to begin from March 17, the salaries and allowances of MLAs and ministers have been increased to more than 66 per...

SVB collapse: Minister Chandrasekhar to meet Indian startups to see how govt can help them

New Delhi: As the collapse of Silicon Valley Bank (SVB) in the US left the Indian startup ecosystem worried, Union Minister of State for Electronics and IT, Rajeev Chandrasekhar, on...

India-born Rajesh Agrawal to lead London trade mission to India

New Delhi: London Deputy Mayor for Business Rajesh Agrawal will lead a delegation to India starting March 13, in a first in-person trade mission run by the Mayor's International Business...

Silicon Valley Bank collapse leaves Indian startups worried

New Delhi: The collapse of Silicon Valley Bank (SVB) in the US has left several Indian startups worried who have exposure to its investments and their raised funds may now...

Centre makes it compulsory for banks to record transactions of politically exposed persons

New Delhi: Centre has amended the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, making it mandatory for banks and financial institutions to record financial transactions of politically exposed persons...

Budget to give new momentum to women-led development: PM

New Delhi: Prime Minister Narendra Modi on Friday said that this year's budget will give a new momentum to the efforts of women-led development. Addressing a post-budget webinar on "Economic...

Read Previous

Kejriwal slams ED, calls its chargesheet ‘completely fictional’

Read Next

Amul hikes milk price by Rs 3/litre for Delhi, Maha & Kolkata consumers

Leave a Reply

Your email address will not be published.

WP2Social Auto Publish Powered By :