Karnataka Minsiter MB Patil confirms second international airport for Bengaluru
Bengaluru: Amid discussions over considering a second airport for Bengaluru city, Infrastructure Development Minister MB Patil on Wednesday confirmed the coming up of the new international airport dedicated to the city.
Patil speaking to media persons at Vidhana Soudha on Thursday stated, "Bengaluru, which is one of the fastest growing cities in terms of industrial growth and population globally, needs another international airport to handle over 100 million passengers annually and a four and a half thousand to five thousand acres of land will be required for this purpose, and a high-level committee will consider it and finalize it.”
"Bengaluru is also the technology and innovation capital of the country, and the present Kempegowda International Airport is the third busiest airport after Delhi and Mumbai in the country. At present, it handles 52 million passengers and 0.71 million tons of cargo per year. He explained that it can be expanded up to 1.10 million tonnes and it will reach the maximum level by 2035. KIAL now has two runways, in which expansion is not possible,” he clarified.
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"By 2035, Kempegowda Airport will reach its maximum capacity. Following our project announcement, the Tamil Nadu government proposed a new airport in Hosur, but we have no issue with that," Patil added.
The minister outlined several requirements for the new airport, including the absence of nearby hills, rivers, or seas, as well as quality state/national highway, rail, and metro connectivity. He mentioned potential locations such as Kanakapura Road, Mysore Road, Magadi, Doddaballapur, Dabasapete, and Tumkur.
Bangalore International Airport Limited (BIAL), which built KIAL, had stipulated that no new airport should be established within a 150 km radius until 2033. Patil noted that this restriction will expire by 2033, and with immediate action, the new airport could be operational by then.
"Second airports have been constructed 35-40 km from existing airports in Delhi and Mumbai. We will consider similar distances," Patil assured, emphasizing that the proposed airport will enhance convenience in all aspects.
In addition, Patil also revealed about holding discussions about the state's industrial development with Union Industries Minister HD Kumaraswamy. He plans to personally visit and submit a proposal to the Centre, highlighting the state's interest in attracting major industries, including semiconductor manufacturing, with full state government support.
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Silver, gold script sharp comeback as US-Iran ceasefire calms global jitter
New Delhi (PTI): Silver prices surged Rs 11,000 to Rs 2.51 lakh per kilogram in the national capital on Wednesday, while gold advanced to Rs 1.56 lakh per 10 grams amid strong global cues after the US and Iran agreed to a two-week ceasefire.
According to the All India Sarafa Association, the white metal zoomed by Rs 11,000, or nearly 5 per cent, to Rs 2,51,000 per kg (inclusive of all taxes) from Tuesday's closing level of Rs 2,40,000 per kg.
Gold of 99.9 per cent purity also appreciated by Rs 3,200, or 2.09 per cent, to Rs 1,56,400 per 10 grams (inclusive of all taxes). It settled at Rs 1,53,200 per 10 grams in the previous market session.
Analysts said bullion prices strengthened as geopolitical tensions in West Asia eased, triggering a broader relief rally across global financial markets.
Gold maintained strong gains and approached a three-week high on Wednesday as improved global risk sentiment, along with a pullback in US dollar and crude oil prices, boosted demand for precious metals, Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
The positive momentum came after an agreement reached just before a self-imposed deadline by US President Donald Trump, who confirmed a pause in military action, conditional on the reopening of the Strait of Hormuz.
Iran also signalled that safe passage through the Strait would be possible during the ceasefire period, further easing supply concerns.
In the overseas markets, spot gold gained USD 97.48, or 2.07 per cent, to USD 4,803.33 per ounce, while silver was trading 6 per cent higher at USD 77.33 per ounce.
"Spot gold in the international markets surged on Wednesday after the announcement of a temporary ceasefire in the Iran war," Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, said.
He added that commodities, bonds and equities rallied after crude oil prices crashed nearly 20 per cent on the ceasefire announcement, as a decline in energy rates will reduce interest rate hike chances by global central banks, including the US Federal Reserve.
Echoing similar sentiments, Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said precious metal prices rose up to 7 per cent as the dollar slipped below 99 on US-Iran ceasefire relief, temporarily easing fears of prolonged energy supply shocks and the associated inflationary fallout.
The rally in bullion ran alongside a broader relief rally in global markets. Throughout the conflict, gold's traditional safe-haven appeal has been tempered by liquidity stress, as investors were compelled to liquidate bullion positions to cover losses elsewhere in their portfolios, she added.
"With the ceasefire conditional and compliance around the Strait of Hormuz still uncertain, any signs of a breach or collapse could quickly reverse sentiment and renew downside risk across precious metals," Chainwala said.
