This is the most recent mega project undertaken by the ports-to-energy conglomerate Adani Group...
Digital desk: Indian billionaire Gautam Adani on Thursday announced his ambitions to transform Dharavi, the largest slum in the country, into a modern city centre. This huge initiative would require rehousing of around 1 million people.
Dharavi, which is regarded as the largest slum in Asia, is a crowded area in the heart of India's financial capital where thousands of poor families live in cramped conditions. Many residents face problems due to running water or clean toilets.
Recently, the Maharashtra state government approved Adani's $619 million proposal to rehabilitate the 625-acre (253-hectare) area, which officials have dubbed "the world's largest urban renewal scheme."
According to Adani, the renovation will give people access to gas, water, drainage, healthcare, and other utilities.
According to Adani, "the scale and dimensions of the Dharavi project's design and operational problems are huge, We are also conscious that the project will push the boundaries of our competence, capability, and execution skills."
The idea to rehabilitate Dharavi was first put out in the 1980s as a method to utilize valuable land while also giving residents decent accommodation.
This is the most recent mega project undertaken by the ports-to-energy conglomerate Adani Group, which already provides electricity to Mumbai through its publicly traded subsidiary Adani Transmission.
The billionaire's firm has come under criticism recently when American short-seller Hindenburg Research accused it of dishonest business methods, causing the value of the group's main equities to drop by more than $150 billion. Adani denied misconduct, and since he reassured investors and paid off debt, the stocks have increased by about $50 billion.la
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