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.

NBCC (India) Limited , a prominent player in the construction and infrastructure sector, has taken a significant step towards urban development by signing a Memorandum of Understanding (MoU) with the Nagpur Metropolitan Region Development Authority (NMRDA) for the ambitious Naveen Nagpur business district project.

Project Overview

The MoU outlines NBCC's role as the Project Management Consultant for the development of a sprawling 1,710-acre (692 hectares) area in Naveen Nagpur. The project is designed to establish a new business and finance hub, with 1,000 acres dedicated to the business district and an additional 710 acres reserved for future expansion.

Key Features

The Naveen Nagpur development is set to incorporate cutting-edge infrastructure:

• Integrated underground utility tunnels
• District cooling system
• Automated waste collection and segregation plant

The project will focus on creating a diverse ecosystem of commercial establishments, including:

• Spaces for start-ups and MSMEs
• IT company facilities
• Commercial offices
• Residential and mixed-use developments

Strategic Approach

NBCC plans to develop the project on a plug-and-play model, rolling it out in phases over the coming years. This phased approach is designed to ensure sustainable growth and adaptability to market needs.

Official Signing Ceremony

The MoU was formally signed by:

• K. P Mahadevaswamy, Chairman and Managing Director of NBCC
• Sanjay Meena, IAS, Metropolitan Commissioner of NMRDA

The signing ceremony was attended by the Maharashtra Chief Minister Devendra Fadnavis, along with other distinguished officials from both organizations.

Implications for NBCC and Nagpur

This project marks a significant milestone for NBCC, potentially boosting its project portfolio and reinforcing its position in the urban development sector. For Nagpur, the initiative aims to transform the region into a planned Business and Finance Centre, potentially attracting investments and fostering economic growth.

Corporate Update

In a separate announcement, NBCC informed that Shri Manas Kaviraj, previously serving as Senior Executive Director (HRM), has been relieved from his duties at NBCC. Kaviraj has been appointed to the post of Director (Human Resources) at Advanced Weapons & Equipment India Limited, Kanpur.

As NBCC embarks on this transformative project, stakeholders will be keenly watching its progress and its potential impact on both the company's growth trajectory and the urban landscape of Nagpur.