Anakapalli, Andhra Pradesh, June 16, 2026:
Japanese materials manufacturer Proterial is set to invest ₹2,250 crore in a state-of-the-art rare earth magnet manufacturing facility at Achutapuram Special Economic Zone (SEZ) in Anakapalli district, Andhra Pradesh.
The project is expected to strengthen India’s advanced manufacturing ecosystem and support the growing demand for critical materials used in electric vehicles, renewable energy, electronics, aerospace, and defence industries.
Major Boost for Andhra Pradesh Manufacturing
The proposed facility will be established on 25 acres within the Achutapuram SEZ and is expected to position Andhra Pradesh as an important hub for high-value manufacturing and strategic materials.
Officials believe the investment will attract further industrial development, create employment opportunities, and strengthen the state’s role in global supply chains.
Facility to Produce NdFeB Permanent Magnets
The plant will have a production capacity of 1.2 KTPA (Kilo Tonnes Per Annum) of NdFeB (Neodymium-Iron-Boron) permanent magnets, which are considered among the most powerful permanent magnets used in modern technology.
These magnets are essential components in:
- Electric Vehicles (EVs)
- Wind Turbines
- Consumer Electronics
- Aerospace Systems
- Defence Equipment
- Industrial Automation
The demand for NdFeB magnets has been rising globally due to the rapid expansion of clean energy and advanced technology sectors.
Strategic Importance for India
Industry experts note that rare earth magnets play a critical role in reducing dependence on imports and strengthening domestic manufacturing capabilities.
The investment is expected to support India’s ambitions in electric mobility, renewable energy, and strategic technology sectors while contributing to the country’s broader industrial growth objectives.
Achutapuram Emerges as Industrial Hub
The Achutapuram SEZ has attracted several major investments in recent years, emerging as one of Andhra Pradesh’s key industrial destinations.
The addition of the Proterial facility is expected to further enhance the region’s industrial profile and attract investments in advanced manufacturing and technology-driven sectors.