Mumbai: Adani Group company takes over Rs 5,000 crore project on RTO land

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The firm has taken a majority stake and will jointly develop the over 11 lakh sq ft sale component of the project with developer Shiv Infra Vision, which had bagged the work in 2018.

MUMBAI: A jinxed Rs 5,000 crore slum rehabilitation project on RTO land in Andheri West has been taken over by an Adani Group company, Portsmount Buildcon.

 

The firm has taken a majority stake and will jointly develop the over 11 lakh sq ft sale component of the project with developer Shiv Infra Vision, which had bagged the work in 2018.

 

Residents of three slum pockets—Anna Nagar, Vitthal-Rakhumai and Kasam Nagar—measuring over six acres, had appointed Shiv Infra to rehabilitate them after allegations of irregularities and nepotism involving the then NCP PWD minister Chhagan Bhujbal derailed the project.