State-owned NBCC (India) Ltd has signed a memorandum of understanding (MoU) with Rajasthan State Industrial Development & Investment Corporation Limited (RIICO) for the development of large-scale infrastructure projects worth ₹3,700 crore in Jaipur. The highlight of the pact is the Rajasthan Mandapam, a landmark convention and exhibition complex planned near Jaipur International Airport.
The agreement was signed in the presence of Rajasthan Chief Minister Bhajan Lal Sharma, Industry Minister Col. Rajyavardhan Singh Rathore, RIICO chairman and Additional Chief Secretary to the Chief Minister Shikhar Agrawal, NBCC Chairman and Managing Director K.P. Mahadevaswamy, NBCC Director (Commercial) Dr. Suman Kumar, and other senior officers from both organizations.
Under the MoU, NBCC has been appointed as the exclusive executing agency for the project, which will cover a 95-acre prime land parcel. The company will be responsible for master planning, architectural design, engineering, construction, and international-standard marketing of the infrastructure. The Rajasthan Mandapam is expected to become a world-class hub for conventions, trade fairs, cultural events, and business activities, strategically located next to the state’s busiest airport.
Financial arrangements for the project include an initial interest-free advance of ₹50 crore from RIICO to NBCC. The remaining funds will be mobilized through the sale and lease of built-up spaces and planned plots within the project area. In addition, the Government of Rajasthan will provide financial support of up to ₹635 crore for the development of the Mandapam. This model is intended to make the project self-sustaining, while ensuring timely execution.
The project is targeted for completion within 30 months, subject to statutory and internal approvals. According to NBCC, the timeline underscores its commitment to transparency, accountability, and efficiency in infrastructure delivery. Once complete, the development is expected to elevate Jaipur’s standing as a regional and international hub for commerce, tourism, and cultural exchange.
The Rajasthan Mandapam project is also seen as part of a broader push to enhance Rajasthan’s infrastructure capabilities and attract investment into the state. With its proximity to Jaipur International Airport, the project is strategically positioned to serve both domestic and global audiences. Officials present at the signing noted that such infrastructure would boost economic activity, create jobs, and provide a platform for Rajasthan to host large-scale events of global standards.
NBCC, which has a long track record of delivering government and public sector infrastructure projects across India, emphasized that the Jaipur development aligns with its mission of creating sustainable, modern, and inclusive infrastructure. For RIICO, the collaboration represents another step in driving industrial and infrastructure growth across Rajasthan, a state increasingly positioning itself as an investment destination.
By bringing together state backing, central execution expertise, and a model of financial sustainability, the ₹3,700 crore Rajasthan Mandapam project stands out as a major milestone for Jaipur’s growth story. The project not only symbolizes investment in physical infrastructure but also reflects confidence in Rajasthan’s potential as a hub for trade, industry, tourism, and cultural exchange.
Once operational, the Rajasthan Mandapam is expected to serve as a showcase of modern India’s infrastructure capabilities and provide Jaipur with a landmark asset to compete with leading global convention destinations.
