Advertisement
NBCC has signed an MoU with Rajasthan State Industrial Development and Investment Corporation (RIICO) to develop the Rajasthan Mandapam and related infrastructure near Jaipur International Airport. The INR 3,700 crore project will cover 95 acres and is envisioned as a major hub for conventions and business events. NBCC will serve as the Executing Agency, with RIICO providing an initial INR 50 crore interest-free advance to begin work. Funding will also be raised through the sale and lease of built-up spaces and plots within the site. The project is expected to stimulate economic activity, open new commercial avenues, and elevate Jaipur as a prime events destination.
NBCC has recently signed a Memorandum of Understanding with Rajasthan State Industrial Development and Investment Corporation (RIICO) to undertake the development of the Rajasthan Mandapam and associated infrastructure near Jaipur International Airport. The project, valued at approximately INR 3,700 crore, spans 95 acres and is expected to become a major hub for conventions and related activities. Advertisement
According to the statement, NBCC has been designated as the Executing Agency for this large-scale development. RIICO is set to provide NBCC with an initial interest-free advance of INR 50 crore to kick-start the project. The remaining funds will be raised by NBCC through the sale and lease of built-up spaces and planned plots within the project site, allowing the company to manage the financing without relying solely on government support.
With NBCC spearheading the execution and financing through a mix of initial support from RIICO and subsequent sales and leases, the project is expected to boost economic activity, create commercial opportunities, and enhance Jaipur?s profile as a business and events destination.
Source - PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
