Infrastructure firm Tata Projects on Friday kicked off the Rs 1,676-crore rejuvenation project of the Dravyawati river in Rajasthan. "The consortium of Tata Projects and Shanghai Urban Construction Group has received this project worth Rs 1,676 crore from the government of Rajasthan," it said in a statement.
The foundation stone was laid by Rajasthan Chief Minister Vasundhara Raje in presence of Tata Sons Chairman Cyrus Mistry, it added. It is first of its kind river rejuvenation attempt in a dry and arid landscape in India and post rejuvenation, the river would be developed into an environment-friendly tourist destination that would prevent flooding of nearby areas.
The 47-km long Dravyawati river, which is located between Jaisalya village at the foothills of the Nahargarh Fort and the river Dhund, has deteriorated into a nallah over the last 100 years.
"The project is scheduled to be completed by October 2018. The consortium will be responsible for maintenance of this project for 10 years from completion of the project," Tata Projects said. Besides amortisation of 170 million litres per day (MLD) of polluted water, over 100 fall structures will be constructed to ensure availability of water in this channel throughout the year. About 16,000 trees will be planted and 65,000 sq metre of green area will be developed under this project, it added.
Tata Chemicals Q1 profit up 32.34% to Rs 279.65 crore
Tata Chemicals Group on Friday reported 32.34 per cent growth in consolidated profit after tax at Rs 279.65 crore for the quarter ending June 30, compared with the same period last year. The company’s PAT stood at Rs 211.31 crore in the corresponding period of 2015-16, Managing Director R Mukundan told reporters here. However, the revenue for the first quarter declined by 8.67 per cent.