Solar Industries India Limited, through its wholly-owned subsidiary Economic Explosives Limited (EEL), has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra for establishing an Anchor Mega Defence and Aerospace Project in Nagpur. The announcement was made on January 22, 2025, at the World Economic Forum in Davos, Switzerland.
The ambitious project entails an investment of approximately Rs. 12,700 crore, focusing on expanding the production of advanced defence products, including drones, UAVs, counter-drone systems, energetic materials, new-generation explosives, and military transport aircraft.
The Maharashtra government has pledged to assist EEL in securing the necessary permissions, approvals, and fiscal incentives for the project’s establishment, aligned with its existing policies and regulations.
This development highlights Solar Industries’ commitment to enhancing India’s defence and aerospace capabilities while contributing to the state’s economic growth.
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