Mumbai, December 28 (IANS). Dharavi Redevelopment Project Private Limited (DRPPL), the company working on the redevelopment project of Dharavi in Mumbai, the capital of Maharashtra, has changed its name to ‘Navbharat Mega Developers Private Limited’ (NMDPL). The company said that this is part of its rebranding, under which a new corporate vision has been decided.
The company has said in the press release issued on Saturday that the reason behind naming ‘Navbharat Mega Developers’ is the company’s commitment towards development, change and hope. The rebranding has received approval from the company’s board of directors and the Ministry of Corporate Affairs. This transformation reflects the company’s resolve and new outlook to ensure a bright future for the beneficiaries of the massive and historic work of slum rehabilitation across the country.
The company said that ‘Navbharat’ in the name shows how important this project is to building a better future. Whereas, ‘Mega’ shows the vastness of this project. The term ‘developers’ reflects the role of the company.
NMDPL is a special purpose vehicle (SPV) formed by the Government of Maharashtra and Adani Group. The Government of Maharashtra has entered into an agreement with the Adani Group through the Dharavi Redevelopment Project (DRP)/Slum Rehabilitation Authority (SRA).
The company clarified that the name change will not change the objective of the project or the role of the government in it. NMDPL’s commitment to the redevelopment of Dharavi remains the same.
The company also said that another reason for changing the name is that there is a government company working in the same area by the name of Dharavi Redevelopment Authority (DRP), which may cause confusion to the people. DRP is the special planning authority of the Government of Maharashtra, created for the redevelopment of Dharavi.
He said that DRP will continue to monitor the redevelopment work of Dharavi as before.
–IANS
AKJ/ABM
