Jaipur: A memorandum of understanding was signed between Rajasthan State Industrial Development & Investment Corporation (RIICO) and UltraTech Cement Ltd to set up a Rs 2,000-crore cement project in Jhunjhunu district on Wednesday. The MoU was signed between the managing director of RIICO, Rajendra Bhanawat and senior executive president of UltraTech Cement, Radhamohan Gupta. The project will have an annual installed capacity of 3 million tonnes and would generate an employment of about 2500 jobs directly.