Adani Can Get Letter Of Intent Only If He Can Financially Execute The Project Says Devandra Fadnavis

Maharashtra Deputy Chief Minister Devendra Fadnavis on Tuesday said the Adani group which has secured the tender for Dharavi redevelopment will get the Letter of Intent (LoI) only if it settles that it has the financial capability to execute the project.

He was replying after Congress MLA Varsha Gaikwad, whose constituency includes Dharavi, voiced concerns about the project in the matter of Hindenburg Research’s allegations of stock manipulation against the Adani group. Gaikwad also asked if a fresh tender will be invited for the project. Fadnavis claimed 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 rewarded the contract, he said.

So it is incorrect to say that the process was faulty. The LoI has not been issued yet. This is because it is issued only after all the departments take that decision.

Fadnavis further said that there is one decision from the Urban Development department after which the LoI will be awarded.