Midwest Energy plans Rs 250-crore rare-earth magnet plant in Hyderabad
The Economic Times describes it as India’s first sintered NdFeB magnet plant. Commercial production is expected by mid-October 2026, starting at 500 tonnes a year.
TLDR
The Economic Times reports Midwest Energy is setting up a Rs 250-crore rare-earth magnet plant in Hyderabad. Production is expected to begin by mid-October 2026 at 500 tonnes a year. The company plans to reach 5,000 tonnes by December 2027, aiming to reduce India’s near-total dependence on imported rare-earth permanent magnets.
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