July 03, 2026 11:25 pm (IST)
Follow us:
Solar Industries inks Rs. 1,550 cr MoU with Maharashtra Govt for defence project
Mumbai, Feb 17 (IBNS): Manufacturer of industrial explosives and explosive initiating systems Solar Industries India Ltd has inked a Memorandum of Understanding (MoU) worth Rs 1,550 crore with the Government of Maharashtra to produce variety of ammunitions for armed forces.
This MoU, entered between 100% subsidiary Economic Explosives Limited and Government of Maharashtra, was signed on Tuesday during the ongoing Make In India Week event in Mumbai.
Under the partnership, the company will produce variety of ammunitions for armed forces. This project will be set-up at Nagpur and is expected to generate direct employment to more than 700 personnel.
The MoU was exchanged in presence of Chief Minister of Maharashtra Devendra Fadnavis, Minister of Industries, Government of Maharashtra, Subhash Desai, Union Minister for Road Transport Highway & Shipping Nitin Gadkari, Union Minister for Railways Suresh Prabhu, Union Minister for Environment and Forest Prakash Javdekar and Union Minster for Chemical and Fertilisers Ananth Kumar.
The company entered into defense sector four years ago and has commissioned HMX (high melting explosive) plant, composite propellant plant and various other products like pyros and war heads.
“The Government’s ‘Make in India’ programme, and its decision to allow private companies into the highly-regulated defence sector, has opened the door to the massive opportunity matrix in this segment. Utilising this window of opportunity, we have made a strategic entry into the defence segment with an eye on the huge untapped potential it offers for well-integrated entities like ours,” said Satyanarayan Nuwal, Chairman, Solar Industries India Ltd.
“It was a historic moment for Solar Group as we entered into an MoU with the government to set up project for our Armed Forces. The project is expected to be completed in a period of 24 months,” he added.
Solar Industries India Ltd will be building world class facilities to produce Bi-Modular Charge Systems (BMCS), fully integrated Rockets and New Generation of Hand Grenades.
While the facilities are being established with own strength of technical manpower and knowledge based, the knowhow for the products shall be obtained from Defence Research and Development Organisation (DRDO).
The facilities shall be completed in a period of 24 months and commercial production will start within next 12 consecutive months.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Air India, SIA Engineering ink agreement for collaboration on MRO
Fri, Jul 03 2026
Government revives IDBI Bank privatisation; mega Rs 55,000 crore deal back on track
Thu, Jul 02 2026
India-US trade deal almost done! Piyush Goyal hints at breakthrough
Thu, Jul 02 2026
From rally to rout: Zee Entertainment shares crash after denying Rs 418 crore FDI report
Thu, Jul 02 2026
Renault India sustains growth momentum; June wholesales rise 55%
Wed, Jul 01 2026
Mahindra’s Trucks & Buses Business sells 3249 vehicles in June 2026
Wed, Jul 01 2026
Mahindra farm equipment business sells 58,177 Tractors in June 2026
Wed, Jul 01 2026