NBCC has signed a Memorandum of Understanding (MoU) with the Rajasthan State Industrial Development & Investment Corporation Ltd (RIICO) to undertake a project valued at Rs 3,700 crore in Jaipur.
In a statement released on Thursday, NBCC announced that it has formalized an agreement with RIICO for the development of Rajasthan Mandapam and associated infrastructure in proximity to Jaipur International Airport. The estimated value of the project is approximately Rs 3,700 crore.
NBCC has been designated as the Executing Agency for this 95-acre initiative. According to the statement, “RIICO will provide NBCC with an initial interest-free advance of Rs 50 crore, while NBCC will secure the remaining funds through the sale and leasing of constructed spaces and designated plots.”
