N.A.N. GreenMet to Establish ₹1,250 Crore Integrated NdFeB Magnet Plant, Boosting India’s Rare Earth Ambitions.

N.A.N. GreenMet Pvt. Ltd, a critical minerals and advanced manufacturing platform, has announced the launch of N.A.N. MagneTech Pvt. Ltd, which will invest ₹1,250 crore to establish India’s first fully integrated high-performance Neodymium-Iron-Boron (NdFeB) rare earth magnet manufacturing facility in Andhra Pradesh.

The facility will be developed at Naidupeta Industrial Park, where the company has secured land along with state government incentives for the project. Phase I of the facility will have an initial production capacity of 1,200 tonnes per annum (TPA), with plans to scale capacity to 10,000 TPA over the long term.

Commercial production is targeted to begin in the first quarter of 2028. The project is expected to generate annual revenue of ₹1,200-1,500 crore once operational.

High-performance NdFeB permanent magnets are essential components used in electric vehicle traction motors, wind turbines, defence systems, robotics, semiconductors and advanced electronics. The company said India currently imports nearly 95 per cent of its rare earth magnets from China, highlighting the strategic importance of developing domestic manufacturing capabilities.

To ensure raw material security, N.A.N. MagneTech has entered into long-term feedstock supply arrangements, including heavy rare earth oxides, with a leading Australian rare earth producer. The company has also secured off-take agreements with major domestic automobile manufacturers and Tier-1 automotive suppliers.

The Naidupeta facility will integrate the entire oxide-to-magnet value chain under one roof, covering rare earth oxide processing, metal and alloy production, automated sintered magnet manufacturing and closed-loop recycling.

The project is being developed with Japanese technology partners and in collaboration with Dr Masato Sagawa, the inventor of the NdFeB magnet. The technology and operational strategy will be guided by an international advisory team comprising Dr John Ormerod as Chairman of the Technology Board, Dr Masato Sagawa as Senior Technical Advisor and Dr Gaurav Shukla as Deputy CEO.

"N.A.N. MagneTech is an important milestone in building a domestic rare earth magnet ecosystem that supports India's long-term industrial