MIR Group to invest Rs 1500 cr in Mangalore SEZ

Mangaluru: An Expression of Interest (EOI) was signed on Friday between the Italy-based MIR Group and Mangalore SEZ Ltd. The move marks a significant step in boosting Dakshina Kannada’s industrial growth and in aligning with the “Back To Ooru” (Back to Native) initiative championed by Capt. Brijesh Chowta, Member of Parliament for Dakshina Kannada.

The MIR Group, led by CEO Arch. Raffaele Marrazzo, expressed its intent to establish a state-of-the-art facility within the Mangalore SEZ. The factory will manufacture a range of energy-efficient building materials, with an investment commitment of over Rs. 1500 crore. In a post on social media platform X, MP Capt. Chowta highlighted the strategic advantages offered by Mangalore SEZ and its potential to attract global players. “It gives me great joy to see this landmark beginning as we aim to bring successful Mangaloreans back to their roots through initiatives like ‘Back To Ooru.’,” he said.

The project owes much of its momentum to MIR Group’s Director Nitik Ratnakar, whose enthusiasm for reconnecting with his Mangalorean roots played a pivotal role in the collaboration. Capt. Chowta lauded Ratnakar’s efforts, calling it a proud moment for the city.

MIR Group is globally recognised for its innovative and sustainable construction technologies. With its planned operations in Mangalore SEZ, the group aims to meet the growing demand for energy-efficient building materials while creating job opportunities and boosting the local economy. he initiative is expected to reinforce Mangalore’s position as a hub for global investments and sustainable industrial development. The proposed project is anticipated to generate employment, foster skill development, and contribute to the region’s long-term economic growth. Capt. Chowta’s visionary “Back To Ooru” initiative is designed to encourage successful individuals with roots in Dakshina Kannada to contribute to the region’s development. The partnership with MIR Group is a prime example of this vision in action, as it symbolises the potential for global collaborations that benefit the local community. With an investment of this scale and a focus on sustainable practices, the MIR Group’s project is poised to make a transformative impact on Mangaluru’s industrial landscape says Capt. Chowta.