Infra Boom for Rajasthan: NBCC and RIICO Ink ₹3,700 Crore Deal

NBCC (India) Ltd. has signed a Memorandum of Understanding (MoU) with the Rajasthan State Industrial Development & Investment Corporation (RIICO) to jointly develop infrastructure projects worth ₹3,700 crore in Jaipur, including the marquee Rajasthan Mandapam near Jaipur International Airport.

Spread across a 95-acre prime land parcel, NBCC has been designated as the exclusive executing agency, tasked with master planning, architectural design, engineering, construction, and international-standard marketing of the project. The development will be financed through an initial ₹50 crore interest-free advance from RIICO, along with revenues generated from the sale and lease of built-up spaces and planned plots.

The state government has earmarked up to ₹635 crore in support specifically for the Rajasthan Mandapam, which is envisioned as a landmark convention and cultural centre. The entire project is targeted for completion within 30 months, subject to statutory and internal approvals.

The MoU was signed in the presence of Chief Minister Bhajan Lal Sharma, Industry Minister Col. Rajyavardhan Singh Rathore, and senior officials from both NBCC and RIICO, highlighting Rajasthan’s strong push to boost infrastructure and attract investment-driven economic growth.

News by Rahul Yelligetti.