Mumbai, September 21: The Maharashtra cabinet on Wednesday decided to invite fresh bids for the Dharavi Redevelopment project and offer additional benefits for the project, a statement said.

This decision taken by the cabinet headed by Chief Minister Eknath Shinde for the Dharavi Redevelopment project also entails formation of a Special Purpose Vehicle (SPV) for one of the major infrastructure projects in the city.

This will also include the terms and conditions laid down by the Rail Land Development Authority, it said. The statement said the concession has been offered looking at the overall slowdown in the market compounded with COVID-19 pandemic.

The redevelopment of Dharavi, one of the biggest slums in Asia, throws open over 600 acres of prime land, but the project has met with hurdles over the last two decades.

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