Industrial explosives manufacturer Solar Industries India has signed a pact with the Maharashtra government to set up a facility in Nagpur with an investment of Rs 1,550 crore to manufacture ammunition for armed forces.

The memorandum of understanding (MoU) was formalised by the company through its 100 per cent subsidiary Economic Explosives during the ongoing Make in India week here. The project will come up in Nagpur, a relatively industry deficit area of the Vidarbha region, and will generate more than 700 direct jobs.