Three bids were received for the redevelopment of Dharavi, one of Asia’s largest slum clusters, at a cost of over Rs 20,000 crore.
The government looks to transform the slum into an integrated commercial cum residential township.
The Slum Rehabilitation Authority (SRA) in Maharashtra on November 15 said that it received three bids for the rehabilitation and construction work.
In September this year, the Maharashtra cabinet approved fresh global bids for the Dharavi Redevelopment Project and offered additional benefits.
The Maharashtra authority had floated a tender In October this year for the redevelopment work.
SVR Srinivas, CEO of the Dharavi Redevelopment Project, said, "We have got three bids for the Dharavi rehabilitation project. November 15 was the last date for submission of bids."
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According to officials, the bids will be scrutinised based on technical and financial eligibility.
Overall, eight companies from India, the United Arab Emirates (UAE), and South Korea had shown interest in the redevelopment of Dharavi in the pre-bid meeting conducted on October 11.
The Maharashtra government aims to complete the bidding process for the project by the end of the year and the winner will have seven years to complete the work and rehabilitate more than 56,000 families.
According to the bid criteria, the winning bidder has to form a Special Purpose Vehicle (SPV), bring in investment of more than ₹1,600 crore and infuse 20 percent of it before signing the development agreement and 20 per cent on submission of an integrated master plan, according to a report in Hindustan Times.
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