Italy-based MIR Group interest in investing ₹1,500 crore in Mangaluru

Mangaluru:An Expression of Interest for establishment of an Industry relating to production of energy-efficient building materials such as BIPV panels, thermal insulation materials, sodium-ion batteries, and thermally insulated doors and windows, alongside providing energy efficient design consultancy and retrofitting services was signed between Mangalore SEZ Ltd and MIR Group, Italy.

The EOI was exchanged between between Shri V.Suryanarayan, CEO, Mangalore SEZ Ltd and Mr Arch. Raffaele Marrazzo, CEO, MIR Group, Italy.

MIR Group SRL SB (“MIR”), a globally recognized organization, headquartered in Italy with branches in Switzerland and the UAE, known for its expertise in sustainable urban regeneration, energy-efficient building design, and innovative construction practices.

MIR group intends to expand its activities beyond Italy and has now chosen India that too Karnataka more particularly Mangalore Special Economic Zone because of the best-in-class infrastructure for establishing an industry in around 10 acres with a phased investment of around 1500 Crores. MIR Group will establish the industry after seeking requisite approvals.

The event was attended by Member of Parliament, Dakshina Kannada Captain Brijesh Chowta, who has taken the initiative of motivating locals who have moved away from the hometown to set up enterprises in Mangaluru, with the objective of bringing Investment to the Mangaluru region. He has the titled the initiative Back to Uru, and is passionate about the development of the region.

Mr Nitik Ratnakar, Director & Architect, UAE, MIR Group, Mr Claudio Monteleone, Legal of MIR Group and members from the KCCI, CII and CREDAI were present at the event.