NBCC (India) Limited , a Navratna CPSE under the Ministry of Housing and Urban Affairs, has taken a significant step forward in its project portfolio. The company has announced the signing of a Memorandum of Understanding (MoU) with RIICO, marking a substantial business development.

Key Highlights of the MoU

• Partnership: NBCC (India) has entered into an agreement with RIICO (Rajasthan State Industrial Development and Investment Corporation).
• Project Value: The MoU encompasses projects valued at ₹3,700.00 crore.
• Scope: While specific details of the projects are not disclosed, the substantial value suggests a significant impact on NBCC's order book.

Implications for NBCC

This MoU represents a notable business opportunity for NBCC (India), potentially strengthening its position in the construction and real estate sector. The collaboration with RIICO, a state government enterprise, could open doors for more public sector projects in Rajasthan.

About RIICO

RIICO, or the Rajasthan State Industrial Development and Investment Corporation, is the sole industrial promotion and investment facilitation agency of the Government of Rajasthan. Its partnership with NBCC suggests a focus on industrial infrastructure development in the state.

This development underscores NBCC's continued efforts to expand its project pipeline and reinforces its status as a key player in India's infrastructure development landscape.

NBCC (India) Limited , a prominent public sector construction company, has made a significant stride in its business development by signing a Memorandum of Understanding (MoU) with Rajasthan State Industrial Development & Investment Corporation Limited (RIICO). The agreement, valued at approximately Rs 3,700.00 crore, marks a major collaboration between the central and state governments for ambitious infrastructure projects in Rajasthan.

Project Details

The MoU encompasses the development of the prestigious Rajasthan Mandapam and allied infrastructure projects near Jaipur International Airport, Tonk Road, Jaipur. As the exclusive Executing Agency, NBCC will spearhead the transformation of a 95-acre prime land parcel through:

• Master planning
• Architectural design
• Engineering
• Construction
• International-standard marketing

The project will feature:

1. Rajasthan Mandapam Convention Center
2. Unity Mall
3. Associated commercial and cultural infrastructure

This development aims to position Jaipur as a premier destination for global conventions and retail innovation.

Financial Structure

The financial structure of the project includes:

• An initial interest-free advance of Rs 50.00 crore from RIICO to NBCC
• NBCC to mobilize the remaining funds through:
  • Sale and lease of built-up spaces
  • Planned plots
• Implementation of a robust, self-financing model
• Potential leveraging of public financial institutions when required

The government has committed financial support of up to Rs 635.00 crore for the Rajasthan Mandapam, demonstrating a strong commitment to the project's success.

Project Timeline and Oversight

• Target completion: 30 months upon receipt of statutory and internal approvals
• A joint Empowered Committee will monitor progress, designs, and milestones

Significance of the Agreement

This agreement represents a significant business development for NBCC, expanding its project portfolio and strengthening its position in the construction and infrastructure development sector. The collaboration between NBCC and RIICO underscores the importance of public-private partnerships in driving large-scale infrastructure projects.

High-Profile Signing Ceremony

The MoU signing ceremony in Jaipur was attended by distinguished dignitaries, including:

• Shri Bhajan Lal Sharma, Hon'ble Chief Minister of Rajasthan
• Col. Rajyavardhan Singh Rathore, Hon'ble Industry Minister of Rajasthan
• Shri Sudhansh Pant, Chief Secretary, Government of Rajasthan
• Shri Shikhar Agrawal, Additional Chief Secretary to Chief Minister and RIICO chairman
• Shri K.P. Mahadevaswamy, CMD, NBCC
• Dr. Suman Kumar, Director (Commercial), NBCC

The presence of these high-ranking officials highlights the strategic importance of this project for both NBCC and the state of Rajasthan.

This landmark agreement not only bolsters NBCC's project pipeline but also contributes significantly to the economic and cultural growth of Rajasthan, particularly in enhancing Jaipur's status as a global convention and retail hub.