Proterial to set up new manufacturing facility in Anakapalli
Japanese firm Proterial plans to set up a rare-earth permanent magnet manufacturing facility in Andhra Pradesh. The plan is to develop the facility at Achutapuram in Anakapalli district with an investment of Rs 2,250 crore.
As per updates from The Economic Times, the new facility will manufacture 1.2 kilotonnes per annum (ktpa) of sintered neodymium-iron-boron (NdFeB) permanent magnets. These magnets are the most critical components used in electric vehicles, wind turbines, industrial motors, electronics, aerospace and defence systems.
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