Replying to a discussion on the issue during the question hour, Chavan said the project has been under consideration for 30 years and in the last 7-8 years, there have been two attempts to revive the project.
"However, the bidding process was unsuccessful," he said.
Chavan said the Centre has agreed for a viability gap funding (VGF) of Rs 1,920 crore. "There are five international consortium and the bidding process will start soon," he added.
For vital public projects, the cut off date for rehabilitation is upto year 2000.
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The issue was raised by Jitendra Avhad (NCP) that there are about 600 slums on the Bombay Port Trust (BPT) land out of which about 340 have been rehabilitated and demanded that the rest of the project affected should also be given alternate homes.
While replying to another question on repairs of MHADA layouts, Chavan said the final draft of the regulations is ready and he had accepted the recommendations of a government committee set up for the purpose.