Project News Detail
| Project No : | 206392 |
|---|---|
| Project Title : | Japan’s Proterial to invest Rs 2,250-cr for setting up rare earth magnet plant in Andhra |
| Company Name : | Private Company |
| Project Detail : | Japan-based Proterial, a global leader in advanced materials and magnetic technologies, is set to establish a rare earth permanent magnet manufacturing facility in Andhra Pradesh with an investment of approx. Rs 2,250 crore.
The investment is expected to strengthen India’s manufacturing ecosystem by enabling local production of high-value magnet materials while supporting the country’s ambitions in renewable energy, electric mobility, and advanced manufacturing. The facility could also help attract downstream industries that rely on rare earth magnets, creating employment opportunities and fostering technology transfer. Permanent magnets are critical components used in electric vehicles, wind turbines, consumer electronics, industrial motors, and various clean energy technologies.M The project is viewed as a strategic move that aligns with India’s broader objective of securing critical mineral supply chains and enhancing self-reliance in key industrial sectors. |
| Project Location : | Not Classified - Andhra Pradesh - India |
| Project Estimation : | Refer Document |
| Status : | Announced |