Raje opens much-awaited Dravyavati river project
Jaipur, Oct 2 : Chief Minister Vasundhara Raje on Tuesday inaugurated the city's 'Dravyavati River Rejuvenation Project' executed by Tata Projects Ltd. spread over 47.5 km rain-fed riverfront.
The area had degenerated into an untreated sewage nallah, but has now been restored as a perennial river, fed by treated clean water.
For now, the 13-km stretch of Dravyavati riverfront out of total area of 47.5km has been opened for residents.
Raje said the dream visualized in the year 2014 to rejuvenate the dry river has finally been realized. "The residents can come and view nature here," she said.
The project aims to reduce pollution, treat 170 million litres of sewage a day, create green and social spaces, cycle and jogging tracks along its banks, reduce the threat of floods, create employment, and transform Jaipur into a clean city, the Chief Minister said.
Encroachments have been removed from the nallah which has helped restore the river to its glory and vitality.
Vaibhav Galaria, Jaipur Development Commissioner, said: "This is one of the largest and most complex projects undertaken by Jaipur Development Authority."
Vinayak Deshpande, Managing Director, Tata Projects Limited, said: "We are happy to be a part of this visionary project, which will become an example for river rejuvenation in India. This project had many challenges for us."
Officials said over 17,000 trees, shrubs, and ornamental plants have been planted along the banks. A pathway and a cycling track on both sides of the river has been provisioned. Planned landscapes have been developed along the river totalling an impressive 5.0 lakh square meters.
Five Sewage Treatment Plants (STPs) have been installed along the course of the river with a combined capacity of 170 MLD, officials added.
The ambitious project aims to contain flood discharge, realign original route of the river, remove all encroachments, reclaim valuable land, and enhance value of properties at impact zones.
Jaipur Development Authority has contracted the project for Rs 1,676 crore to a consortium of Tata projects and Shanghai Urban Construction Group. The consortium will be responsible for the maintenance of this project for 10 years from its completion.
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Gold, silver soar as US-Iran deal hopes lift bullion demand
New Delhi (PTI): Gold prices rebounded by Rs 2,900 to Rs 1.55 lakh per 10 grams in the national capital on Wednesday, while silver climbed to Rs 2.54 lakh per kilogram as easing geopolitical tensions triggered a pullback in oil rates, boosting demand for precious metals.
According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity jumped by Rs 2,900, or nearly 2 per cent, to Rs 1,55,400 per 10 grams (inclusive of all taxes) from Tuesday's closing level of Rs 1,52,500 per 10 grams.
Traders attributed the surge in bullion prices to reports that Washington and Tehran are close to finalising a framework agreement to end months of conflict, raising the prospects of smoother flows through the Strait of Hormuz and easing inflation concerns tied to energy markets.
"Gold rallied strongly on Wednesday as easing geopolitical tensions triggered a sharp reversal in key macro drivers that had recently pressured precious metals," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.
Silver prices also advanced for the third straight session by rising Rs 3,500, or 1.4 per cent, to Rs 2,54,500 per kg (inclusive of all taxes). The metal had settled at Rs 2,51,000 per kg in the previous session, as per the Association.
"The prospect of a diplomatic breakthrough triggered a steep decline in oil prices and the US dollar, easing concerns about inflation while boosting demand for precious metals," Gandhi said.
Globally, spot gold increased by USD 106.15, or 2.33 per cent, to USD 4,663.70 per ounce while silver gained USD 3.40, or 4.68 per cent, to USD 76.24 per ounce.
"Gold witnessed a sharp rally as markets reacted positively to reports that the US and Iran are moving closer to a one-page agreement framework aimed at ending the conflict," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said.
Despite strong international gains, rupee strength limited the upside in domestic gold prices. The market is now highly focused on final confirmation and execution of the proposed deal, he added.
Any negative surprise or breakdown in negotiations could trigger a sharp sell-off in gold, while a successful agreement and sustained ceasefire could push the bullion prices higher in the near-term, Trivedi said.
