logo
CIDCO charts multi-pronged strategy to meet Navi Mumbai water demand

CIDCO charts multi-pronged strategy to meet Navi Mumbai water demand

Time of India27-06-2025
The government of Maharashtra's town planning and infrastructure development authority, the City and Industrial Development Corporation (CIDCO) has devised a comprehensive roadmap, leveraging existing sources and developing new sources like Balganga Dam and Kondhane Dam to meet the increasing water demand in Navi Mumbai.
The rapid transformation of Mumbai's satellite city, driven by large-scale infrastructure projects such as the
Navi Mumbai International Airport
(NMIA), the Navi Mumbai Airport Influence Notified Area (NAINA), and Mass Housing schemes, is putting pressure on the region's water supply systems.
In response to this, CIDCO is executing a multi-source water supply strategy aimed at both immediate and long-term needs.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Treatment That Might Help You Against Knee Pain
Knee pain | search ads
Find Now
Undo
'As Navi Mumbai continues to grow and develop, our commitment to sustainable water management remains unwavering. With establishing the strong water supply network, we are not just meeting today's demands, we're building a resilient water infrastructure for tomorrow,' said Vijay Singhal, vice chairman and managing director, CIDCO.
To cater to the projected water demand of 1275 million litres per day (MLD) by 2050 in CIDCO and NAINA areas, the corporation is drawing from existing sources like Hetawane Dam, Maharashtra Jeevan Pradhikaran (MJP), Navi Mumbai Municipal Corporation (NMMC), and Maharashtra Industrial Development Corporation (MIDC), while also developing new reservoirs such as Balganga and Kondhane dams.
Live Events
The proposed Kondhane Dam, located on the Ulhas River, is expected to be a major water source for the region. Initially planned to supply 250 MLD, it will later be scaled up to 350 MLD.
In view of the 4-5-year timeline for the Kondhane and Balganga projects, CIDCO has requested additional allocations from current sources. In August 2020, the Maharashtra government approved an additional quota of 120 MLD from Hetawane Dam for Rs. 119.80 crore, increasing CIDCO's total allocation from this source to 270 MLD.
To implement the increased supply, CIDCO appointed a consultant to augment the existing system. The Hetawane Water Supply Scheme augmentation, underway in four phases, is expected to be completed by June 2029. Current progress includes 41% completion of the water treatment plant, 8.5% of the raw water tunnel, and 25.7% of the pure water tunnel, CIDCO said.
The authority has also engaged leading project management consultancies to oversee water tunnel and treatment plant construction.
Once operational, the Hetawane and Kondhane initiatives will stabilize water supply to CIDCO's jurisdiction and the Panvel Municipal Corporation, playing a critical role in the
sustainability
of the region's urban expansion.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

How Jane Street targeted over 40 Nifty, Nifty Bank stocks in expiry-day trades
How Jane Street targeted over 40 Nifty, Nifty Bank stocks in expiry-day trades

Time of India

time14 minutes ago

  • Time of India

How Jane Street targeted over 40 Nifty, Nifty Bank stocks in expiry-day trades

U.S. trading firm Jane Street Group allegedly manipulated Indian equity indices by targeting over 40 constituent stocks of the Nifty 50 and Bank Nifty, deploying aggressive expiry-day strategies that netted massive gains, according to a Securities and Exchange Board of India (Sebi) order that barred the firm from Indian securities markets on Friday. The market regulator's order, running 105 pages, outlined how the proprietary trading firm executed high-volume trades to distort index levels, misleading other market participants and profiting from large index options positions. The firm and four of its affiliates have been barred from accessing Indian securities markets, and Sebi has ordered the impounding of Rs 4,840 crore in alleged illegal gains. Expiry-day targeting across indices Sebi's probe identified 18 expiry-day sessions, 15 involving Bank Nifty and three involving Nifty 50, during which Jane Street allegedly engaged in 'sharp, large, and aggressive interventions' across cash, futures, and options markets. These trades, SEBI said, influenced index levels and options pricing to the firm's advantage. Among the Bank Nifty stocks involved were HDFC Bank, ICICI Bank, Axis Bank, State Bank of India, Kotak Mahindra Bank, IndusInd Bank, Federal Bank, Bank of Baroda, IDFC First Bank, AU Small Finance Bank, Punjab National Bank, Canara Bank, and Bandhan Bank. The strategy extended to a broader basket of Nifty 50 constituents, particularly on expiry days in May 2025. Sebi listed trades involving Reliance Industries, Infosys, Tata Consultancy Services, HDFC Life, ITC, Larsen & Toubro, and Kotak Mahindra Bank, among others. In all, the firm allegedly executed trades in over 40 index stocks, including names such as Adani Enterprises, Bajaj Finance, Coal India, HCL Technologies, Hindustan Unilever, JSW Steel, Maruti Suzuki, ONGC, Power Grid, Sun Pharma, and Tata Steel. January 17: A case study in engineered volatility Sebi's order highlighted January 17, 2024, as Jane Street's single most profitable day in Indian markets, a session where the firm allegedly made Rs 735 crore using what the regulator called an 'Intra-day Index Manipulation' strategy. The Bank Nifty index opened significantly lower that morning at 46,573.95 versus the previous close of 48,125.10. Sebi noted that media reports attributed the drop to weak earnings from HDFC Bank the previous evening. The firm allegedly responded with a two-patch strategy. In 'Patch I,' Jane Street aggressively bought Rs 4,370 crore worth of Bank Nifty constituents and futures, pushing prices up and creating the impression of a recovery. SEBI said that 'at a time when participants in index options markets are misled by the above support for Nifty Bank, JS Group builds effectively Rs 32,114.96 crores of bearish positions in the much more liquid Nifty Bank index options by buying cheap Put options and selling expensive Call options.' In 'Patch II,' the firm reversed these purchases. 'The sales are aggressive, in a manner that pushes down prices in the component stocks and hence index. JS Group books losses in intraday cash/ futures market trading,' Sebi noted. However, the losses in equities were vastly outpaced by profits in the options market, as put options surged in value. 'Profits in index options more than compensate for the JS Group's losses in intraday cash/futures trading,' the Sebi order said. Also read | How Sebi's crackdown on Jane Street unfolded: A 15-month trail of scrutiny and ignored warnings A repeatable pattern Sebi found that Jane Street used this intra-day strategy on 15 of the 18 expiry days it reviewed, while the remaining three involved a different 'Extended Marking the Close' approach, also observed in trades in May 2025, even after Sebi had issued a cautionary notice to the firm. 'JS Group continued with similar trades, in disregard of the caution letter from the Exchange… and JS Group's own commitments,' SEBI said, adding that the firm was 'aware that Nifty Bank was almost certainly likely to fall again by the end of the day, given their intent to aggressively sell back all of their morning purchases (and more).' Other market participants, meanwhile, 'were unaware of all this, and were hence enticed to deal at a time that the Nifty Bank itself was being artificially and temporarily propped up,' the regulator said. Enforcement and systemic concerns Sebi's order names four Jane Street entities — JSI Investments Pvt Ltd, JSI2 Investments Pvt Ltd, Jane Street Singapore Pte Ltd, and Jane Street Asia Trading Ltd — which are now banned from buying, selling, or dealing in securities, directly or indirectly. Banks have been directed to freeze all debit transactions from the group's accounts. The regulator said Jane Street earned Rs 36,502 crore in total profits between January 2023 and March 2025, of which Rs 43,289 crore came from index options. These were partly offset by Rs 7,687 crore in losses across cash and futures trades. Sebi also drew attention to broader imbalances in India's derivatives markets, where institutional and proprietary traders, often using high-frequency strategies, dominate gains while retail traders absorb equivalent losses. The order said that Jane Street 'was consistently running what appeared to be by far the largest risks in 'cash equivalent' terms in F&O particularly on index option expiry days.' What made the firm's strategy stand out, Sebi said, was 'the intensity and sheer scale of their intervention in the underlying component stock and futures markets.' Also read | Rs 735 crore in 1 day! Jane Street's most profitable day on Dalal Street was built on Nifty Bank's fall

Nellore MP extends Rs 11L financial support to revenue sports
Nellore MP extends Rs 11L financial support to revenue sports

Hans India

time15 minutes ago

  • Hans India

Nellore MP extends Rs 11L financial support to revenue sports

Nellore: MP Vemireddy Prabhakara Reddy, a industrialist cum politician who was well known to the public as a noted philanthropist once again showcased his charity by extending Rs 11 lakh financial support to the AP Revenue Services Association(APRSA) Nellore district unit on the occasion of a 3-day 10th Revenue Sport and Cultural Meet scheduled from 11th July 13 organised at AC Subbareddy Stadium in Nellore city on Friday. The MP handed over the Rs 11 lakh cheque to the District Revenue Officer (DRO) J Udaya Bhaskar at his camp this occasion APRSA leaders thanked the Nellore MP for his initiative in providing such a big amount.

Pakistan, US conclude critical round of trade negotiations
Pakistan, US conclude critical round of trade negotiations

Time of India

time18 minutes ago

  • Time of India

Pakistan, US conclude critical round of trade negotiations

Pakistan and the US have concluded a critical round of trade negotiations, reaching an understanding on a deal that could shape the future of the country's key export sectors, a media report said on Saturday. While both sides have reached an understanding, a formal announcement is expected only after the US concludes similar ongoing negotiations with other trade partners, Dawn News reported. The understanding was reached with less than a week before the July 9 deadline to conclude the talks in Washington, where Commerce Secretary Jawad Paal led the Pakistan delegation to finalise a long-term reciprocal tariff agreement that would prevent the re-imposition of a 29 per cent tariff on Pakistani exports, primarily textiles and agricultural products. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Scientists: Tinnitus? When tinnitus won't go away, do this (Watch) Hearing Magazine Undo The tariff relief, temporarily paused earlier this year, was at risk of expiring if no progress had been made by July 9. Officials familiar with the negotiations said the four-day talks were successful, with both sides agreeing to a broad framework. Live Events The agreement, when signed, could lead to increased Pakistani imports of US goods - notably crude oil - and potential American investment in Pakistan's mining, energy, and infrastructure sectors. Projects like the Reko Diq copper and gold mine and related energy infrastructure were a focus of the discussions. The deal could also pave the way for expanded engagement through the US Export-Import Bank. Although US Treasury Secretary Scott Bessent earlier indicated that Washington might allow limited flexibility on the deadline if meaningful pro-g-ress was evident, Pakistani officials said they pushed for early conclusion of negotiations to remove uncertainty for exporters and investors. Officials remain optimistic that the agreement will sustain Pakistan's access to the US market and help reset bilateral economic ties under strain since the high tariffs were introduced during the Trump administration, according to the report.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store