SECTOR
NBCC (India) signs MoU with RIICO for projects worth Rs 3,700 crore
Sep-12-2025

NBCC (India) has signed a Memorandum of Understanding (MoU) with Rajasthan State Industrial Development & Investment Corporation (RIICO) for the development of the prestigious Rajasthan Mandapam and allied infrastructure projects near Jaipur International Airport, Tonk Road, Jaipur. The project, valued at around Rs 3,700 crore, marks a major milestone in the partnership between the Government of India and the Government of Rajasthan.

The company, appointed as the exclusive Executing Agency, will lead the transformation of a 95-acre prime land parcel through master planning, architectural design, engineering, construction and international-standard marketing. The project will feature the Rajasthan Mandapam Convention Center, Unity Mall and associated 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 the sale and lease of built-up spaces and planned plots. NBCC will implement a robust, self-financing model and leverage public financial institutions when required for uninterrupted work. The project’s investments, including government financial support up to Rs 635 crore for the Rajasthan Mandapam, reflect the commitment to timely, transparent and accountable completion. A joint Empowered Committee will monitor progress, designs and milestones, ensuring rigorous oversight and quality. The project is targeted for completion within 30 months upon receipt of statutory and internal approval.

NBCC (India) is one of the few public sector companies engaged in the business of project management consultancy services for civil construction projects (PMC), civil infrastructure for power sector and real estate development.

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