· Manufacturing & Investment · Source: economictimes.indiatimes.com

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

Hyderabad-based Midwest Energy is setting up a ₹250 crore rare-earth magnet plant in Hyderabad, described as India's first sintered NdFeB magnet facility. Commercial production is expected by mid-October 2026, starting at 500 tonnes a year, with plans to scale to 5,000 tonnes by December 2027. The project aims to cut India's near-total dependence on imported rare-earth permanent magnets used in electric vehicles and renewable energy.

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