'Operation Hussain Sagar' works, related to diversion of contaminated water and draining of the lake are going on at a fast pace. A bright new Tank Bund might be ready for visitors by this month-end. A sum of Rs 53 crore has been released in the first phase. The nallas flowing into Tank Bund have been closed and the chemical effluents coming from the Kukatpally nalla have been diverted. The draining of the polluted waters in the lake is going on simultaneously and the water level has come down by 7ft. Boating may be temporarily halted, officials said.