'It's just that there is money to help people in trouble, not to buy social media companies and then make them worse.'
A place in India that is known as the densest and poorest slum in the world, Dharavi will have a new face when the world's 3rd richest billionaire wins the bid for his development project.
Covering an area of about 620 acres, Dharavi is inhabited by more than 1 million people, which is said to have a ratio of 1 toilet for 80 people, and is located not far from 5 kilometers from the financial center of India, Mumbai.
It is also the poorest region in India with millions of houses in the area being dilapidated or damaged and with no access to clean water, besides the average population being migrant laborers from villages who work for low wages.
Under the Dharavi Redevelopment Project, Chief Executive Officer (CEO) SVR Srinivas has opened bids to anyone who wants to help redevelop the poor area.
The main purpose of the project is to develop a city within the city and combine land for commercial and residential purposes.
Among those who participated in the bidding was DLF Ltd which took the lead with 20.25 billion Rupees before being overtaken by Adani Group owned by billionaire Gautam Adani with an offer value of 50.7 billion Rupees.
Previously, Adani through Adani Enterprises launched a mega power port project that supplies electricity in Mumbai through the listed unit of Adani Transmission Ltd.
And this Dharavi redevelopment project will be Adani's 4th largest project around Mumbai and 24th across 4 other major cities.
In the meantime, Gautam Adani remains at the top of the 3rd place in the Bloomberg Billionaires Index and in the Real-Times Billionaires List.
