Italian Giant MIR Group to Invest ₹180 Crore in MSEZL Facility

Italy-based MIR Group is planning to invest around €20 million to establish a manufacturing facility in Mangaluru for producing energy-efficient building materials, including Building Integrated Photovoltaic (BIPV) panels, thermal insulation materials, and sodium-ion batteries.

Addressing the media in Mangaluru, Sai Chandu, Sustainability Head at MIR Group, said the investment will be rolled out over the next three years. The proposed plant will be located at Mangalore Special Economic Zone Ltd (MSEZL).

The Mangaluru unit is expected to have an annual production capacity of about 1.5 million square metres of BIPV panels. In its first year of operations, the company plans to manufacture approximately 250,000 square metres of panels.

The facility is intended to meet the rising demand for sustainable and energy-efficient construction solutions in both domestic and international markets.

News by Rahul Yelligetti.