{"id":10414,"date":"2026-06-30T14:52:35","date_gmt":"2026-06-30T09:22:35","guid":{"rendered":"https:\/\/tradebrains.in\/money\/?p=10414"},"modified":"2026-06-30T14:52:42","modified_gmt":"2026-06-30T09:22:42","slug":"andhra-pradesh-approves-2-rare-earth-magnet-projects-worth-3500-crore-which-areas-will-benefit","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/money\/andhra-pradesh-approves-2-rare-earth-magnet-projects-worth-3500-crore-which-areas-will-benefit\/","title":{"rendered":"Andhra Pradesh Approves 2 Rare Earth Magnet Projects Worth \u20b93,500 Crore: Which Areas Will Benefit?"},"content":{"rendered":"\n
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Synopsis: <\/strong>Andhra Pradesh has given approval for two projects of manufacturing rare earth permanent magnets to be established by Proterial (India) Pvt. Ltd. and NaN MagneTech that would cost \u20b93,500 crore<\/strong>. This will enable the country to build its own manufacturing capacity of rare earth magnets.<\/em><\/p>\n<\/blockquote>\n\n\n\n

India has taken another important step toward becoming self-sufficient in the areas of critical minerals and manufacturing through the State Government of Andhra Pradesh approving two new ‘greenfield’ projects worth \u20b93,500 crore<\/strong> to manufacture rare earth permanent magnets. These projects, being developed by Proterial (India) Pvt Ltd and NaN MagneTech (India)<\/strong>, will provide the country with necessary domestic capabilities for producing high performance magnetic materials that can be used in electric vehicles, renewable energy, defense, and advanced electronics.\u00a0<\/p>

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Andhra Pradesh Approves Two Rare Earth Magnet Projects <\/strong><\/h2>\n\n\n\n

The Government of Andhra Pradesh has notified G.O.Ms. No. 136 and G.O.Ms. No. 137 on June 25, 2026, which provides incentives for setting up green field rare earth permanent magnet manufacturing plants through its industrial promotion policy. In combination, these two projects are among the largest ever made in the rare earth magnet manufacturing industry in India, strengthening the reputation of Andhra Pradesh as an ideal location for advanced manufacturing and critical minerals-related investments.<\/p>\n\n\n\n

Proterial (India) Pvt. Ltd.\u00a0<\/strong><\/h3>\n\n\n\n
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    • Company:<\/strong> Proterial (India) Pvt. Ltd. (part of Japan’s Proterial Group, formerly Hitachi Metals)<\/em>\u00a0<\/li>\n\n\n\n
    • Investment:<\/strong> \u20b92,250 crore\u00a0<\/li>\n\n\n\n
    • Location: <\/strong>Atchutapuram, Anakapalli District\u00a0<\/li>\n\n\n\n
    • Land: <\/strong>25 acres\u00a0<\/li>\n\n\n\n
    • Manufacturing Capacity: <\/strong>Greenfield project for manufacturing 1.2 KTPA of Neodymium-Iron-Boron (NdFeB) rare earth permanent magnets.\u00a0<\/li>\n\n\n\n
    • Employment: <\/strong>530 (Direct & Indirect)\u00a0<\/li>\n\n\n\n
    • Proposed Commercial Operations: <\/strong>October 2029\u00a0<\/li>\n<\/ul>\n\n\n\n

      The plant will produce strong commercially available permanent magnets like NdFeB permanent magnet.<\/strong> They are used in a wide variety of applications, including electric vehicles (EVs), wind turbines, robotics, industrial automation, consumer electronics, medical equipment, defence systems, aerospace, and manufacturing equipment for semiconductors. The investment will boost India’s domestic supply<\/strong> and demand of quality magnetic material products and aim to<\/strong> reduce dependence on imports<\/strong>. <\/p>