New venture plans INR 1,250 crore rare-earth magnet plant in Andhra, aimed at India’s China dependence
A new critical-minerals company, N.A.N. MagneTech, says it will invest about INR 1,250 crore to build what it calls India’s first fully integrated high-performance NdFeB rare-earth magnet facility, at Naidupeta in Andhra Pradesh, with commercial production targeted for early 2028. The firm says