NBCC (India) Limited has signed a significant Memorandum of Understanding (MoU) with Rajasthan State Industrial Development & Investment Corporation Limited (RIICO) to develop the prestigious Rajasthan Mandapam and allied infrastructure near Jaipur International Airport on Tonk Road. Valued at around Rs 3,700 crore, this project highlights the growing collaboration between the Government of India and the Government of Rajasthan.
The MoU signing ceremony in Jaipur was attended by top dignitaries, including Shri Bhajan Lal Sharma, Hon’ble Chief Minister of Rajasthan; Col. Rajyavardhan Singh Rathore, Hon’ble Industry Minister; Shri Sudhansh Pant, Chief Secretary, and Shri Shikhar Agrawal, Additional Chief Secretary to the Chief Minister and RIICO Chairman. NBCC’s CMD Shri K.P. Mahadevaswamy and Director (Commercial) Dr. Suman Kumar, along with senior officials from both organizations, were also present, highlighting the strategic importance of this landmark initiative.
As the exclusive executing agency, NBCC will transform a 95-acre prime land parcel into a world-class development. The project will include the Rajasthan Mandapam Convention Center, Unity Mall, and supporting commercial and cultural infrastructure, positioning Jaipur as a top destination for international conventions and retail innovation.
RIICO will provide an initial interest-free advance of Rs 50 crore, while NBCC will fund the remaining investment through the sale and lease of developed spaces and plots. The company will also leverage public financial institutions when required, ensuring continuous and smooth progress.
Government support of up to Rs 635 crore for the Rajasthan Mandapam demonstrates a strong commitment to timely and accountable execution. Progress will be closely monitored by a joint Empowered Committee, overseeing designs, milestones, and quality standards. The project is expected to be completed within 30 months after all statutory and internal approvals are obtained.
