Mattannoor: A modern market complex in Mattannoor, Kannur, is finally set to materialise, with the municipal council granting approval for a loan of Rs 8.68 crore to implement the project.

The new market, which will cater to vegetables, fish, meat, and fruits, is to be built on municipal land located behind the Mattannoor police station. The detailed project report (DPR) for the Rs8-crore initiative was prepared by Impact Kerala Limited, and the Municipality has granted permission avail a loan worth Rs 8 crore from Kerala Urban and Rural Development Finance Corporation (KURDFC).

Establishing a modern market in the municipality has been a longstanding demand. Though land for the project was acquired years ago and funds were regularly earmarked in successive municipal budgets, progress had stalled due to various technical and administrative hurdles. In the absence of proper facilities, the existing fish and meat markets continue to operate in congested, inadequate spaces.

The plot acquired for the market had eventually been converted as a makeshift parking lot. Now, thanks to the proactive efforts of the current municipal governing committee, the project is back on track. Road access to the project site will also be developed shortly.

"The new market will mark a major milestone in the comprehensive development of Mattannoor," said Municipal Chairman N Shajith.