On Friday, February 20, 2026, Italy-based MIR Group officially unveiled its roadmap to establish a ₹1,500 crore (approximately €20 million for the initial phase) green manufacturing hub in Mangaluru, Karnataka.
The announcement was made during the “MIR NetZero Vision 2047 Summit” held at the T.M.A. Pai International Convention Centre. This project is a flagship under the “Back to Ooru” (Back to Native) initiative, which encourages high-profile industrial leaders with local roots to invest in the Dakshina Kannada region.
Facility Blueprint: The MSEZL Green Cluster
The unit, to be located within the Mangalore Special Economic Zone (MSEZL), will be a first-of-its-kind facility in India focusing on integrated carbon-neutral building technologies.
- Core Products:
- BIPV Panels: Building Integrated Photovoltaics (solar panels that double as facades, windows, or roofing).
- Sodium-Ion Batteries: For stationary energy storage and sustainable urban mobility.
- Thermal Insulation: High-performance materials designed to slash air conditioning energy demand.
- Acoustic Systems: Prefabricated wall systems for sustainable urban living.
- Production Targets:
- BIPV Capacity: 1.5 million square meters annually (with 250,000 sq. meters targeted in Year 1).
- Efficiency: Systems engineered for Indian climates with conversion rates exceeding 24%.
- Timeline: The foundation stone is scheduled to be laid on February 21, 2026, with operations expected to commence by February 2027.
Economic & Strategic Impact
The investment is set to transform Mangaluru from an IT/Services hub into a high-tech manufacturing center for the “Circular Construction” economy.
- Investment: €20 million (initially), scaling to a total phased commitment of ₹1,500 crore over three years.
- Export Strategy: MIR Group plans to use Mangaluru’s port connectivity to export “Made in India” green materials to Australia and the Middle East.
- Policy Alignment: The project supports India’s 2070 Net Zero goal by helping buildings transition from passive energy consumers to active energy generators.
“Our goal is to transform buildings from passive consumers into active generators. This enables sustainable urban growth without compromising architectural aesthetics.” — Raffaele Marrazzo, CEO, MIR Group.