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Thiruvananthapuram, July 3 The memorandum of understanding (MoU) for establishing a satellite city and an industrial park in Kozhikode district will be signed in the third week of August.

The project is being promoted by the Kerala State Industrial Development Corporation (KSIDC) in association with Construction Industry Development Board (CIDB) of the Malaysian Government.

The MoU was slated to be signed on July 2. But this has been postponed in view of the delay in getting the approval of the Malaysian Cabinet.

The decision to sign the MoU in August was taken at a meeting between the Industries Minister, Mr. Elamaram Kareem, and the Public Works Minister of Malaysia, Mr S. Swamy Velu, here.

The project is estimated to have an outlay of Rs1,000 crore and is proposed to be implemented in two or three phases.

More Stories on : Infrastructure | Industrial Policy | Kerala

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