Mangaluru: The State Cabinet has given its approval for the re-constructing Kankanady market as a modern market-cum-commercial complex.

A senior official in Mangaluru City Corporation informed that the government has given administrative approval for the proposed project of the Kankanady market.

It is gathered that the market will be re-built at an estimated cost of Rs. 42.50 crore in the same land after demolishing the existing one. Rs. 22 crore would be borrowed as loan from Karnataka Urban Infrastructure Development and Finance Corporation (KUIDFC) and Rs. 17 crores would be availed as a loan from a nationalised bank and the balance amount would be borne by the corporation from its internal funds

The market will be built keeping hygienic conditions in mind, therefore markets will be neat and clean both for purchasers and traders.

Meanwhile, a modern market-cum-commercial complex of the corporation is all set to be opened at Kavoor shortly. It will be the first market in the city to have a sewage treatment plant (STP) and a biodegradable waste crusher unit.