SANDEEP KUMAR | : – NBCC (India) Limited has signed a Memorandum of Understanding (MoU) with Rajasthan State Industrial Development & Investment Corporation Limited (RIICO) for the development of the Rajasthan Mandapam and allied infrastructure projects near Jaipur International Airport, Tonk Road. The landmark project, valued at approximately Rs. 3,700 crore, marks a significant milestone in collaborative efforts between the Government of India and the Government of Rajasthan.
The MoU signing ceremony in Jaipur highlighted the strategic importance of the project for the region’s economic and cultural growth. NBCC has been appointed as the exclusive executing agency and will lead the transformation of a 95-acre prime land parcel, encompassing master planning, architectural design, engineering, construction, and international-standard marketing. Key features include the Rajasthan Mandapam Convention Center, Unity Mall, and other commercial and cultural infrastructure, positioning Jaipur as a premier destination for global conventions and retail innovation.
RIICO will provide NBCC an initial interest-free advance of Rs. 50 crore, while NBCC will mobilize the remaining funds through sale and lease of built-up spaces and planned plots. The company will implement a self-financing model supplemented by public financial institutions to ensure uninterrupted progress. Government financial support, including up to Rs. 635 crore for Rajasthan Mandapam, underscores the commitment to timely and transparent project execution.
