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Nexon Geochem to set up ₹1,250 crore rare-earth magnet plant in Andhra
Advanced materials company Nexon Geochem on Wednesday said that a rare-earth permanent magnet facility will be set up in Andhra Pradesh with an investment of Rs 1,250 crore. The development comes at a time when India is seeking to build a domestic ecosystem for critical minerals and reduce its dependence on imported rare-earth permanent magnets. The facility to be set up in partnership with the Andhra Pradesh Economic Development Board will produce sintered neodymium-iron-boron (NdFeB) permanen…
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