Archive · 24 Jul 2026
NAN GreenMet to build India's first NdFeB magnet plant
NAN GreenMet is building India's first factory to make high-performance NdFeB magnets, which are important for electric vehicles, wind turbines, and other advanced technologies.
The factory will be in Andhra Pradesh and will start production in early 2028.
This project costs about ₹1,250 crore initially and aims to make India less dependent on importing these magnets from China.
The company has partnered with Japanese experts and secured long-term supplies of the necessary materials.
This factory will help India produce these critical components locally, supporting various industries and technologies.
NAN GreenMet is setting up India's first fully integrated NdFeB magnet and rare earth magnet manufacturing facility.
The initial investment is ₹1,250 crore, with Phase I capacity of 1,200 tonnes per annum (TPA).
The facility is located at Naidupeta Industrial Park in Andhra Pradesh.
Commercial production is expected to start in the first quarter of 2028.
The project aims to reduce India's dependence on imported rare earth magnets, currently at 95% from China.
- Who
- NAN GreenMet
- What
- Setting up India's first fully integrated high-performance NdFeB magnet and rare earth magnet manufacturing facility
- When
- Commercial production slated for the first quarter of 2028
- Where
- Naidupeta Industrial Park, Andhra Pradesh
- Why
- To reduce dependence on imports and secure supply chain resilience for critical components
Supply Chain Resilience
Dependence on Imports
Supply Chain Strategy
Supply Chain Resilience
NAN GreenMet has secured long-term feedstock supply arrangements with an Australian rare earth producer to ensure supply chain resilience.
Dependence on Imports
India currently imports nearly 95% of its rare earth magnets from China, highlighting its dependence on foreign supplies.
- Initial Investment
- ₹1,250 crore
- Location
- Naidupeta Industrial Park, Andhra Pradesh
- Phase I Capacity
- 1,200 tonnes per annum (TPA)
- Total Planned Capacity
- 10,000 TPA
- Expected Revenue
- ₹1,200-1,500 crore annually
- Commercial Production Start
- First quarter of 2028
- Technology Partner
- Japanese technology partners and Masato Sagawa
- Key Applications
- Electric vehicle (EV) traction motors, wind turbines, defence equipment, robotics, semiconductors, and advanced electronics
