The much-awaited new Central Market project, which was on hold due to a stay from the high court, is likely to begin soon.
TheMangaluru Smart City Limited (MSCL) will take up the Redevelopment of Central Market and Fish Market project on a design, build, finance, operate and transfer (DBFOT) basis, under public-private partnership (PPP) mode.
The Mangaluru City Corporation (MCC) has already demolished the 60-year-old Central Market building, to facilitate the construction of a new one.
“The court stay for the project has been vacated, and we have already demolished the old structure of the Central Market, and finalised a Mangaluru-based concessionaire to redevelop the Central Market under DBFOT basis. The project will be taken at an approximate cost of Rs 114 crore,”Mangaluru Smart City Limited (MSCL) general manager Arun Prabha said.
