Italy’s MIR Group to invest € 20 million in Mangaluru

The Italy-based MIR Group is planning to invest about € 20 million in Mangaluru to set up its manufacturing unit for the production of energy-efficient building materials such as Building Integrated Photovoltaic (BIPV) panels, thermal insulation materials and sodium-ion batteries, according to Sai Chandu, Sustainability Head, MIR Group.

Addressing press persons here on Wednesday, he said the company will set up its manufacturing unit in Mangalore Special Economic Zone Ltd (MSEZL) in the next three years. The foundation stone for the unit will be laid on Saturday at MSEZL.

He said the unit could produce around 1.5 million sq. metres of BIPV panels. The company is planning to produce 250,000 sq. metres of these panels in the first year.

Nitik Ratnakar, Executive Director, MIR Group (UAE, India), hoped that the unit would be ready for operation by February 2027. MIR Group is planning to bring an ecosystem on sustainable buildings to Mangaluru with this unit, he said.

NetZero Vision 2047 summit in Mangaluru

Raffaele Marrazzo, Chief Executive Officer of MIR Group S.r.l., said MIR Group will organise ‘MIR NetZero Vision 2047 Summit’ at TMA Pai International Convention Centre in Mangaluru on Friday.

Mr. Marrazzo said this summit focuses on innovative Net Carbon Zero materials, including BIPV façades that generate energy; high-performance thermal insulation reducing cooling demand; pre-fabricated acoustic wall systems for sustainable urban living; sodium-ion batteries for safe, scalable storage; and smart energy storage systems.

Gaurav Hegde, an entrepreneur from Mangaluru, said it is essential for the city to have a strong foundation in manufacturing sector, and the MIR Group’s initiative in this regard would help achieve it.