The Mangalore Special Economic Zone has entered into an Expression of Interest with Italy-based MIR Group SRL SB to establish a state-of-the-art facility for producing energy-efficient building materials, officials announced on Friday.
The proposed facility will focus on manufacturing BIPV panels, thermal insulation materials, sodium-ion batteries, and insulated doors and windows. It will also provide energy-efficient design consultancy and retrofitting services.
MIR Group, a global leader in sustainable urban regeneration and energy-efficient construction, plans to invest Rs 1,500 crore in phases to set up the facility on a 10-acre plot within MSEZ, pending regulatory approvals, according to officials.
Captain Brijesh Chowta, Member of Parliament for Dakshina Kannada, who attended the signing, highlighted his 'Back to Uru' initiative. The initiative encourages local entrepreneurs to invest in the Mangaluru region to promote its development.
Officials stated this partnership is expected to boost sustainable industrial growth while creating significant opportunities in the region.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.