Dharavi redevelopment: State government says LoI only after Adani’s financial capability is established

Devendra Fadnavis

Maharashtra Deputy Chief Minister Devendra Fadnavis on Tuesday said the Adani group which won the tender for the 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.

Also Read: Ample proof, probe Adani Group: Opposition to ED

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.

In November 2021, the Adani group emerged as the highest bidder for the 259-hectare Dharavi Redevelopment Project.

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