NBCC inks pact with RIICO to develop Rs 3,700 cr project in Jaipur

New Delhi, Sep 11 (PTI) State-owned NBCC has inked an MoU with Rajasthan State Industrial Development & Investment Corporation Ltd (RIICO) to develop a Rs 3,700 crore worth project in Jaipur.

In a statement on Thursday, NBCC said it has signed a Memorandum of Understanding with RIICO for the development of Rajasthan Mandapam and allied infrastructure near Jaipur International Airport.

The project is valued at around Rs 3,700 crore.

NBCC has been appointed as Executing Agency for this 95-acre project.

"RIICO will provide NBCC an initial interest-free advance of Rs 50 crore, while NBCC will mobilize the remaining funds through the sale and lease of built-up spaces and planned plots," the statement said. PTI MJH ANU ANU