India, Nov. 28 -- An Adani-led joint venture (JV) has emerged as the lowest bidder for Phase 3 of the Mithi River Rejuvenation Project. The JV, which includes Adani Road Transport Limited, Ashoka and Aakshya, has outbid two other contenders - Hindustan Construction Company and Afcons Infrastructure Limited - according to the tender website of the Brihanmumbai Municipal Corporation (BMC). A final evaluation of the bid is underway.

The Adani-led JV's bid was lowest, negotiated down to 7.1% but still higher than the estimated Rs.1,700 crore. Phase 3, the final stage of the much-delayed mega-project, aims to divert sewage from the Mithi River's stream and reduce flooding during the monsoon.

First announced in 2023, phase 3 has been long del...