Adani Properties awarded the Dharavi redevelopment project

01 Dec 2022 CW Team

With an initial investment of Rs 50.69 billion, the Adani Group has won the bid to redevelop Dharavi, one of the world's largest slum clusters.

Adani Group won the bid with a bid of Rs 5,069 crore, DLF Group submitted a bid of Rs 2,025 crore, and Naman Group's bid was not opened due to technical reasons.

Adani Group's bid is only for the initial investment in the Rs 200 billion project, and the company will be required to form a special purpose vehicle under the bid criteria (SPV). Following that, 20 per cent of the initial investment must be submitted before signing the development agreement, with an additional 20 per cent due upon submission of an integrated master plan.

The Maharashtra government is attempting to build Asia's largest slum cluster for the fourth time in the last 18 years, which will house close to 58,000 families and 12,000 commercial establishments. The redevelopment plan is an integrated residential, commercial, and industrial development approach with a floor space index of more than 4.

Building Material

12 Sep 2025

Trishakti Industries Secures Major Tata Steel Order

Trishakti Industries Limited has secured a significant order from Tata Steel Ltd for the deployment of advanced machinery and skilled manpower at one of the steel major’s flagship project sites.The contract, awarded domestically, involves the hiring of machines along with manpower, with execution set to be completed by 20th September 2025. The initial contract period is 12 months. The total fresh capital expenditure for the project is approximately Rs 1.5 million, while the overall contract value is expected to exceed Rs 5 million inclusive of taxes.This order marks a reinforcement of top-ti..

Kalpataru Projects Secures Rs 27.2 Billion in New Orders

Kalpataru Projects International Limited (KPIL), a leading EPC player in the power transmission and distribution (T&D) and civil infrastructure sector, along with its international subsidiaries, has received new orders and notifications for projects worth approximately Rs 27.2 billion.The projects include:Power Transmission & Distribution (T&D) initiatives in India and overseas.Buildings and Factories (B&F) projects in India.Manish Mohnot, MD & CEO of KPIL, said, “We are delighted with the strong ordering momentum in our T&D and B&F businesses. The orders include ..

ACME Solar Secures Rs 38.92 Billion Financing for Barmer Project

ACME Solar Holdings rose 2.05 per cent to Rs 308.50 after its wholly owned subsidiary, ACME Venus Urja, secured long-term project financing of Rs 38.92 billion from the State Bank of India (SBI).The funds will be utilised for the development and construction of a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project in Barmer, Rajasthan. The loan repayment is structured over 19 years.The Barmer-based FDRE project is contracted with NHPC at a tariff of Rs 4.64 per unit. It will integrate solar power generation with a Battery Energy Storage System (BESS) to ensure higher reliability and d..