Solar Industries' arm Commits ₹12,700 Crore for Nagpur Defence and Aerospace Hub

24 Jan 2025 , 02:07 PM

On Thursday, January 23, Solar Industries India Ltd announced that its subsidiary, Economic Explosives Limited (EEL), has entered into a partnership with the Government of Maharashtra to set up a mega defence and aerospace project in Nagpur.

The announcement was made after signing a memorandum of understanding (MoU) at the World Economic Forum in Davos, Switzerland on January 22, 2025. This is one of the most ambitious projects in the Indian defence and aerospace sector, involving a huge investment of about ₹12,700 crore.

This initiative will concentrate on producing advanced defense technologies such as:

• Drones and unmanned aerial vehicles (UAVs)
• Counter-drone systems
• Energetic materials
• Next-generation explosives
• Military transport aircraft

The main goal is to improve India’s defense and aerospace sectors with innovative products.

To help this project, the Maharashtra government has agreed to:

• All necessary permissions and approvals
• Assistance in registrations and clearances
• Financial incentives according to the state policies

According to Solar Industries, this project is a major milestone in their commitment to advancing India’s defense capabilities and helping the nation become self-reliant in critical areas. Economic Explosives Limited and the Government of Maharashtra partnership reflect a shared vision to boost innovation, create jobs, and drive growth in high-tech industries.