Japan’s Proterial to invest ₹2,250 cr in Indian rare‑earth magnet plant, cutting China reliance
Proterial, the former Hitachi Metals, will spend ₹2,250 crore to build a 1.2 ktpa NdFeB magnet plant in Achutapuram, Andhra Pradesh. The facility targets EVs, wind turbines and defense, and is part of India’s push to curb Chinese rare‑earth imports.