Dalal Street

The Godrej Properties-L&T joint venture (JV) will reportedly bid for the redevelopment of all the five sectors of Dharavi, which the government has identified. The JV has already submitted the expression of interest (EoI) to bid for the project.

The project includes replacing 57,000 slum structures spread over 500 acres. The entire area has been divided into five sectors of about 1.5 crore squre feet (sq ft) each. The project is expected to generate close to Rs 25,000 crore for the Maharashtra government.

The interested companies will be allowed to bid for as many sectors as they like. Each bidder will get only one sector to develop. Selected companies will then rehabilitate slum-dwellers in about 60 lakh sq ft in each sector while the remaining area can be sold commercially.

Two other Mumbai-based developers, Housing Development and Infrastructure (HDIL) and Akruti Nirman, have reportedly formed JVs with Lehman Brothers and Limitless, an arm of Dubai World, to bid for Dharavi.

Larsen & Toubro’s ECC division in consortium with Outotec GmbH, Germany have bagged a Rs 762 crore sinter plant order from Steel Authority Of India (SAIL). This plant of 2 X 204 square metre grate area with a capacity of 3.80 million ton per annum is to be executed on a turnkey basis at the IISCO steel plant (ISP) of SAIL, at Burnpur, West Bengal.

The order value for the company is Rs 639.99 crore and Euro 22.08 million for Outotec. The new sinter plant will be part of SAIL’s ambitious programme of expanding its capacity at ISP by 2.5 MTPA crude steel. The turnkey sinter plant project is to be completed in 29.5 months.

Outotec’s scope covers basic engineering, supply of proprietary and special equipment as well as technical services while the Company’s scope covers detail engineering, supply of indigenous mechanical, electrical and instrumentation works and complete site services including civil, structural and erection works.

Reliance Industries (RIL) is reportedly entering shipbuilding and dredging business with two separate companies. It plans to invest around $1 billion each in two companies and has begun talks with international majors for a strategic tie-up for the dredging business. The shipyard will come up at Rewas, where RIL is setting up a mega port and a special economic zone (SEZ). The company is also looking at a ship repair yard at Kakinada for servicing offshore/platform vessels and rigs.

Separately, the empowered group of ministers have approved the pricing formula proposed by Reliance Industries (RIL) for its Krishna-Godavari (K-G) basin gas, with minor modifications that reduced the delivered price of gas. The revised formula lowers the proposed price of the gas at Kakinada to $4.20 per million British thermal unit (mmBtu) from $4.33 mmBtu that was proposed by RIL. The price at which RIL will sell its gas from the KG basin to consumers will be valid for five years, after which it will be open for revision.