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Nexon Geochem to set up ₹1,250-crore rare-earth permanent magnet facility in Andhra Pradesh
Source: Hindu BusinessLine · 3 hr ago
Summary
Nexon Geochem plans to build a rare‑earth permanent magnet plant in Andhra Pradesh with a production capacity of 600 tonnes per year. The magnets are intended for use in electric vehicles, renewable‑energy systems and advanced manufacturing.
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From the original report
The facility would feature annual production capacity of 600 tonnes of high-grade permanent magnets, serving the rapidly growing electric vehicle (EV), renewable energy and advanced manufacturing sectors
Excerpt from Hindu BusinessLine.
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