N.A.N. MagneTech to Establish India’s First Rare Earth Magnet Manufacturing Facility with ₹1,250 Crore Investment

N.A.N. GreenMet Pvt. Ltd., the critical minerals and advanced manufacturing platform founded by Navin Agarwal (Vice Chairman, Vedanta), announced the launch of N.A.N. MagneTech Pvt. Ltd. to construct India’s first fully integrated high-performance Neodymium-Iron-Boron (NdFeB) magnet & rare earth magnet manufacturing facility.

The facility is being established at the Naidupeta Industrial Park in Andhra Pradesh, where land has been secured along with state government incentives.

Phase I involves an investment of approximately ₹1,250 crore to establish an initial saleable capacity of 1,200 tonnes per annum (TPA), scaling to a total planned capacity of 10,000 TPA. The project will generate annual revenues of ₹1,200–1,500 crore, with commercial production slated for Q1 2028.The facility is being developed in collaboration with leading Japanese technology partners, and the inventor of NdFeB magnets, Dr Masato Sagawa.

Addressing India’s 95% Import Dependence

High-performance NdFeB permanent magnets are critical components powering electric vehicle (EV) traction motors, wind turbines, defence equipment, robotics, semiconductors, and advanced electronics. India currently imports nearly 95% of its rare earth magnets from China.

To secure supply chain resilience, N.A.N. MagneTech has secured long-term feedstock supply arrangements – including critical heavy rare earth oxides – with a major Australian rare earth producer. Furthermore, off-take agreements have already been executed with leading domestic auto OEMs and Tier-1 automotive suppliers.

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

Backed by World Authorities in Magnetics

N.A.N. MagneTech’s technology and operational strategy are led by global industry authorities:

• Dr. John Ormerod (Chairman, Technology Board): Globally recognized authority in rare earth magnetics with over 40 years of industry experience and a PhD in Metallurgy from the University of Manchester.
• Dr. Masato Sagawa (Senior Technical Advisor): Globally celebrated pioneer in rare earth magnet manufacturing and a PhD in Materials Science from Tohoku University. Inventor of the sintered NdFeB magnet and renowned global materials scientist.
• Dr. Gaurav Shukla (Deputy CEO): IIT alumnus holding a PhD in Materials Science, with over 20 years of specialized experience in rare earth materials science and magnet manufacturing.

N.A.N. GreenMet is a clean energy and critical minerals platform focused on building integrated capabilities across battery recycling and critical mineral recovery, precision blasting, and rare earth permanent magnet manufacturing. The company’s ecosystem is supported by international joint ventures and strategic collaboration with global partners across Japan, Belgium, and the Americas, bringing together advanced technologies, operational expertise, and manufacturing capabilities. N.A.N. GreenMet’s long-term strategy is aligned with the national objectives of Viksit Bharat and Atmanirbhar Bharat.