In a landmark agreement aimed at bolstering India’s defence capabilities, the Economic Explosive Ltd. (EEL), a key player of Nagpur-based Solar Group, signed a Memorandum of Understanding (MoU) with the Maharashtra government. The agreement was inked on Wednesday during the World Economic Forum (WEF) Summit at Davos, underscoring the state’s commitment to driving growth in the defence and aerospace sectors.
EEL, India’s largest manufacturer and exporter of explosives and high-energy materials, plans to establish an ‘Anchor Mega Project’ under the aegis of Maharashtra’s “Aerospace and Defence Policy.” This project aims to significantly enhance the company’s production capacities and introduce a range of advanced defence products, aligning with India’s “Atmanirbhar Bharat” initiative for self-reliance in critical sectors.
The proposed project will focus on manufacturing and expanding key defence products, including propellants, warhead explosives, ammunition, defence electronics, drones, UAVs, and next-generation explosives. Additionally, EEL plans to develop ambitious military transport aircraft and small, medium, and large ammunition and chemicals for high-energy explosives and propellants.
EEL’s earlier Mega Project under the 2018 Aerospace and Defence Policy has already seen significant progress. The company’s statement said that Rs 1,350 crore was invested, of which INR 800 crore had been utilized as of December 2024.
“Building on this success, the new Anchor Mega Project involves a substantial investment of Rs 12,780 crore. The initiative falls under Maharashtra’s “Thrust Sector Incentive Scheme” and will be established in a backward region of the state, driving socio-economic development and creating employment opportunities,” the statement disclosed.
“The Anchor Mega Project marks a critical milestone in advancing India’s self-reliance in the defence sector and enhancing the country’s indigenous capabilities in aerospace and high-energy materials,” said a Spokesperson from EEL. The project is expected to foster innovation, support local manufacturing, and reduce India’s dependence on imports for key defence technologies.
EEL has been at the forefront of developing niche, import-substitute products in collaboration with the Indian Armed Forces. This MoU further solidifies the company’s commitment to contributing to India’s strategic objectives in defence and aerospace.
MSN Holdings to Set Up Advanced Lithium Battery Manufacturing Facility in Maharashtra
Meanwhile, in a landmark development aimed at fostering industrial growth and technological innovation, MSN Holdings Ltd., Nagpur, has signed a Memorandum of Understanding (MoU) with the State Government of Maharashtra in the presence of Chief Minister Devendra Fadnavis on Wednesday during the World Economic Forum (WEF) Summit at Davos. This collaboration will pave the way for an advanced lithium battery and cell manufacturing project under the “Ultra Mega Project” as outlined in the State government’s policy.
“The project, with an investment of Rs. 14,652 crore, is poised to transform Maharashtra’s industrial landscape by creating direct and indirect employment opportunities for approximately 8,760 individuals, particularly in the backward region of Vidarbha,” the company said in a press release.
The advanced batteries and cells to be manufactured at the plant are the result of extensive research and development efforts conducted in collaboration with a leading European company. These technological advancements will benefit Indian consumers by reducing costs and weight and bolstering the export potential of Indian-made lithium batteries in international markets.
By establishing this state-of-the-art manufacturing facility in a backward region, the project will foster the creation of an ancillary industrial ecosystem, generate employment opportunities, and contribute to the area’s socio-economic development.
Team BharatShakti
