NBCC (India) Limited has inked a landmark Memorandum of Understanding (MoU) with Rajasthan State Industrial Development & Investment Corporation Limited (RIICO) to execute projects worth ₹3,700 crore, including the marquee Rajasthan Mandapam Convention Center and allied infrastructure near Jaipur International Airport.

The collaboration, marked by a high-profile signing ceremony in Jaipur, underscores a strategic push to position the state as a global hub for conventions, commerce and culture.

The MoU signing ceremony in Jaipur was graced by distinguished dignitaries, including Bhajan Lal Sharma, Hon’ble Chief Minister of Rajasthan, Col. Rajyavardhan Singh Rathore, Hon’ble Industry Minister of Rajasthan, Sudhansh Pant, Chief Secretary, Government of Rajasthan, Shikhar Agrawal, Additional Chief Secretary to Chief Minister and RIICO chairman, and K.P. Mahadevaswamy, CMD, NBCC; Dr.Suman Kumar, Director (Commercial) & other senior officers from both the organisations. This high-profile event underscores the project’s strategic importance to the region’s economic and cultural growth.

NBCC (India) Limited, 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.