Economic Explosives Limited to Boost Defence Sector with Mega Investment in Maharashtra

Economic Explosives Limited partners with Maharashtra for an Anchor Mega Project, reinforcing its role in the defence sector with an estimated INR 12,780 crore investment. This move supports India's self-sufficiency initiatives in aerospace and defence, potentially stimulating regional socio-economic growth.

Economic Explosives Limited (EEL), a subsidiary of the Solar Group of Industries, has initiated a strategic collaboration with the Maharashtra government, signing a Memorandum of Understanding to establish an Anchor Mega Project. This initiative underscores EEL's dedication to strengthening the nation's capabilities in critical sectors like defence and aerospace.

The agreement highlights EEL's ongoing commitment to enhancing India's defence capabilities. The project, falling under the 'Thrust Sector Incentive Scheme' of Maharashtra's Defence and Aerospace category, involves a substantial investment of INR 12,780 crores. The new venture aims to expand production capacities by introducing high-demand defence products, thereby aligning with India's broader self-sufficiency goals in defence.

This ambitious project will not only boost EEL's production of essential defence equipment but also contribute to socio-economic development in Maharashtra's underserved regions. Concurrently, at the World Economic Forum's Annual Meeting 2025 in Davos, Maharashtra signed several MoUs, contributing to a collective investment of Rs 15.70 lakh crore and the creation of 16 lakh jobs, showcasing the state's vibrant economic environment.

(With inputs from agencies.)