Quick Summary: NBCC (India) Limited has signed an MoU with RIICO for a ₹3,700 crore project to develop the Rajasthan Mandapam Convention Center, Unity Mall, and related infrastructure near Jaipur Airport. The 95-acre project aims to boost Jaipur’s status as a global convention and retail hub, with completion expected in 30 months.
Full Article: NBCC (India) Limited has signed a Memorandum of Understanding (MoU) with the Rajasthan State Industrial Development and Investment Corporation Limited (RIICO) for projects valued at approximately ₹3,700 crore.
The agreement involves the development of the Rajasthan Mandapam Convention Center and related infrastructure near Jaipur International Airport, Tonk Road. The initiative aims to position Jaipur as a global destination for conventions, cultural activities, and modern retail.
The MoU signing ceremony in Jaipur was attended by Rajasthan Chief Minister Bhajan Lal Sharma, Industry Minister Col. Rajyavardhan Singh Rathore, Chief Secretary Sudhansh Pant, RIICO Chairman Shikhar Agrawal, NBCC CMD K.P. Mahadevaswamy, along with senior officials from both organizations.
NBCC has been appointed the exclusive executing agency and will undertake master planning, design, construction, and international-standard marketing for the 95-acre project. Key highlights include the Rajasthan Mandapam Convention Center, Unity Mall, and commercial-cum-cultural infrastructure.
To support the project, RIICO will provide NBCC with an interest-free advance of ₹50 crore. Additional funding will be mobilized through the sale and lease of developed plots and built-up spaces. The Government of India has also committed financial support of up to ₹635 crore for the Rajasthan Mandapam.
A joint Empowered Committee will oversee progress, ensuring transparency and timely execution. The project is targeted for completion within 30 months, subject to statutory and internal approvals.