The Adani group is considering infusing at least 12,000 crore of funds to start the redevelopment work at Mumbai's Dharavi, Asia's largest slum, two people directly aware of the development said.
On July 14, the Maharashtra government approved the Adani group to redevelop the crowded Dharavi slum-a complex 590acre cluster of irregular structures, rickety tenements and decrepit buildings sheltering over 900,000 citizens and hundreds of small commercial setups.
A special purpose vehicle (SPV), 80% owned by the Adani group and the rest by the Maharashtra government, was formed in September, following which discussions internally and with the state authorities, including the Mumbai Metropolitan Region Development Authority (MMRDA), have been initiated for the $1.5 billion (nearly 12,500 crore) investment, according to the people cited above.
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Aamir-Ajay off-screen reunion makes fans ask for Ishq 2
When actors Aamir Khan and Ajay Devgn reunited at an event on Saturday, it left their fans nostalgic.
Blissful Bebo in Saif haven!
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FAKE TICKETS, SCALPING STRIKE A SOUR NOTE
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MCSWEENEY TO OPEN, INGLIS HANDED FIRST TEST CALL UP FOR BGT OPENER
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Pakistan win 1st ODI series Down Under since 2002
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Jagan Kumar, the 11-time national motorcycle champion, quits racing
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A rivalry and new momentum
Sabalenka-Swiatek battle for the top promises an exciting year in women's tennis
Varun's fifer in vain, Stubbs scripts a sensational chase
South Africa level series 1-1, beating India by three wickets in the second T20I at Gqeberha
Chelsea, Arsenal in 1-1 draw; United win
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