N A N GreenMet Pvt Ltd, the critical minerals and advanced
manufacturing platform founded by Navin Agarwal, Vice Chairman, Vedanta, has
announced the launch of N A N MagneTech Pvt Ltd to establish India’s first
fully integrated high-performance Neodymium-Iron-Boron (NdFeB) magnet and rare
earth magnet manufacturing facility.
The facility is being developed 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 Rs 12.5 billion
to establish an initial saleable capacity of 1,200 tonnes per annum (TPA),
which will be scaled to a total planned capacity of 10,000 TPA. The project is
expected to generate annual revenues of Rs 1.2–1.5 billion, with commercial
production scheduled to begin in Q1 2028.
The facility is being developed in collaboration with
leading Japanese technology partners and Dr Masato Sagawa, the inventor of
NdFeB magnets.
High-performance NdFeB permanent magnets are critical
components used in electric vehicle (EV) traction motors, wind turbines,
defence equipment, robotics, semiconductors and advanced electronics. India
currently imports nearly 95 per cent of its rare earth magnets from China.
To strengthen supply chain resilience, N AN MagneTech has
secured long-term feedstock supply arrangements, including critical heavy rare
earth oxides, with a major Australian rare earth producer. Off-take agreements
have also been executed with leading domestic auto OEMs and Tier-1 automotive
suppliers.
The Naidupeta facility will integrate the complete
oxide-to-magnet value chain under one roof, including rare earth oxide
processing, metal and alloy production, fully automated sintered magnet
manufacturing and closed-loop recycling.
N.A.N. MagneTech’s technology and operational strategy are
led by global industry authorities:
Dr John Ormerod (Chairman, Technology Board): A globally
recognised 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): A globally
recognised pioneer in rare earth magnet manufacturing and a PhD in Materials
Science from Tohoku University. He is the inventor of the sintered NdFeB magnet
and a renowned materials scientist.
Dr Gaurav Shukla (Deputy CEO): An IIT alumnus with a PhD in
Materials Science and over 20 years of specialised experience in rare earth
materials science and magnet manufacturing.
Navin Agarwal,
Founder and Chairman, N A N GreenMet, said, “The industries shaping the
future will be defined by those who control advanced materials and manufacturing
technologies. At N A N GreenMet, we are building a globally competitive
industrial enterprise that strengthens India’s manufacturing capabilities in
strategically important sectors. N A N MagneTech is an important milestone in
that endeavour, bringing world-class technology to establish a domestic rare
earth magnet ecosystem that supports the country’s long-term industrial
growth.”
Dr John Ormerod, Chairman
of the Technology Board, N A N MagneTech, added, “We are bringing the most
advanced Japanese process technology to India, covering the complete
oxide-to-magnet ecosystem. Backed by a secured feedstock strategy and
closed-loop recycling, this platform is engineered to deliver consistent,
world-class quality.”