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The Economic Times

Economy / The Economic Times

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Midwest Energy to set up Rs 250-crore rare earth magnet plant in Hyderabad

Midwest Energy is setting up Indias first sintered NdFeB magnet plant in Hyderabad, with commercial production expected to begin by mid-October at an initial capacity of 500 tonnes a year. The company plans to scale capacity to 5,000 tonnes by December 2027, aiming to reduce Indias near-total dependence on imported rare-earth permanent magnets.

28 Sep 2026 1:52 pm