Italy’s MIR Group lays foundation stone for its € 20 million project in Mangaluru

The Italy-based MIR Group laid the foundation stone for building 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, at Mangaluru Special Economic Zone on Saturday.

According to Nitik Ratnakar, Executive Director, MIR Group (UAE, India) the unit would be ready for operation by February 2027. The company is planning to invest about € 20 million in its Mangaluru unit in the next three years.

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.

MIR Group is planning to bring an ecosystem on sustainable buildings to Mangaluru with this unit, he said.

Speaking on the occasion, Dakshina Kannada Member of Parliament Capt. Brijesh Chowta said that MIR Group investing in Mangaluru should prompt more companies to invest in Mangaluru. When major industries invest in Mangaluru, it will create more job opportunities, he said.

Mangaluru Bishop Peter Paul Saldanha, Moodbidri MLA Umanah Kotiyan were present on the occasion.