N.A.N. MagneTech (Naidupeta, Andhra Pradesh)

A private Indian company, set up in 2026 by the group of Vedanta's executive vice chairman, planning an integrated oxide-to-magnet NdFeB plant in Andhra Pradesh, starting at 1,200 t/yr.

Points to check

Facts from the sources on this page that a reader should weigh before relying on the company's own figures.

The feedstock supplier ('a major Australian producer') and the automotive off-take customers are not named in any source found.
No financing close, lender, equity raise or construction start has been reported; the operating company was incorporated on 13 Apr 2026 with paid-up capital of ₹1.00 lakh.
N.A.N. MagneTech is one of 20 bidders for the REPM scheme, which will select five beneficiaries; no award had been announced as of 29 Sep 2026, and the AP cabinet's 23 Sep 2026 decision ties its land-cost payment timing to the Ministry's REPM finalization.
The ₹1,200-1,500 crore annual revenue figure is a company projection for Phase I, not reported revenue.
Vedanta Ltd is not a party in any source found; the Vedanta link is through Navin Agarwal, Vedanta's Executive Vice Chairman, who founded N.A.N. GreenMet and is listed as a director of N.A.N. MagneTech.

At a glance

Founded: 2026 — Incorporated 13 Apr 2026 (CIN U24209MH2026PTC470391). It is the rare-earth magnet business of N.A.N. GreenMet, the platform founded by Navin Agarwal, Executive Vice Chairman of Vedanta Ltd, whose other businesses include a 50:50 battery-recycling JV with Belgium's Silox (announced 18 Jun 2026) and N.A.N. Enaex. The Naidupeta magnet plant was announced on 23 Jul 2026.
Headquarters: Worli, Mumbai, Maharashtra, India (registered office, same address as N.A.N. GreenMet)
Ownership: Private, unlisted. Shareholders not disclosed in free public sources. Paid-up capital ₹1.00 lakh; authorized ₹15.00 lakh (InstaFinancials). Vedanta's leadership page lists Navin Agarwal as a director of both N.A.N. Magnetech Private Limited and N.A.N. Greenmet Private Limited. Press describes the company as a subsidiary of N.A.N. GreenMet Pvt Ltd (founder and chairman Navin Agarwal). Vedanta Ltd is not shown as a shareholder or party in any source found. Navin Agarwal is the brother of Vedanta chairman Anil Agarwal (Business Standard, 2020).
Stage: Early stage. Announced in July 2026 with state land approval, but no financing, investment decision or construction yet; its bid for India's magnet incentive scheme is undecided.
Listing: Private.
Revenue: Not publicly disclosed. This company does not publish revenue and no named third party has published an estimate of it.

Capacity

Each date below links to the document the figure came from. A capacity figure with no source is not on this page.

What	Figure	Status	As of
Phase I sintered NdFeB magnets, Naidupeta	1,200 t/yr magnets (output; 'initial saleable capacity')	Announced	Jul 2026
Total planned magnet capacity, Naidupeta	10,000 t/yr magnets (output), no date given	Announced	Jul 2026
State approval, Andhra Pradesh	1.2 kt/yr rare earth magnets, ₹1,250 crore, 25 acres, 400 jobs, operations June 2028 (as reported from G.O.Ms. No. 137, 25 Jun 2026)	Announced	Jun 2026

Narrative

N.A.N. MagneTech was incorporated in April 2026 as part of N.A.N. GreenMet, a critical minerals group founded and chaired by Navin Agarwal, who is also executive vice chairman of Vedanta and is listed as one of N.A.N. MagneTech's directors; Vedanta itself is not named as a party. In July 2026 it announced a ₹1,250 crore first phase at Naidupeta Industrial Park in Andhra Pradesh to make 1,200 t/yr of sintered NdFeB, rising later to 10,000 t/yr, with its own steps from oxide to metal and alloy and recycling of production scrap, and commercial production in the first quarter of 2028. Andhra Pradesh approved 25 acres of land and incentives in June 2026, with operations in its order dated June 2028. The company has named advisers, including Masato Sagawa, but not its Japanese technology partner, its Australian oxide supplier or its automotive customers. It is one of 20 bidders for India's ₹7,280 crore rare earth permanent magnet incentive scheme, which will support five manufacturers of up to 1,200 t/yr each; no awards had been announced by late September 2026. No financing or construction start has been reported.

Where public sources disagree

District: Deccan Chronicle (24 Jul 2026) places Naidupeta Industrial Park in Tirupati district; Trade Brains, reporting the state order G.O.Ms. No. 137 of 25 Jun 2026, places it in Nellore district.
Start date: the company announcement (Construction World, Industrial Economist, 23 Jul 2026) targets commercial production in Q1 2028 (January-March 2028); Trade Brains reports the state approval as giving operations from June 2028, about three months later.

Sources

N.A.N. MagneTech to Build Rs 1,250 Crore Rare Earth Magnet Plant — Construction World (2026-07-23)
Vedanta Vice Chairman's critical minerals venture to build facility in AP — Industrial Economist (2026-07-23)
Naidupeta to Host India's First Rare Earth Magnet Plant — Deccan Chronicle (2026-07-24)
NAN GreenMet to build India's first rare earth magnet plant — The Hans India (2026-07)
N.A.N. MagneTech to Build ₹1,250 Crore Magnet Facility in Andhra Pradesh — Autocar Professional (2026-07-22)
N.A.N. MagneTech to Invest ₹1,250 Crore in Andhra Pradesh for Rare Earth Magnet Plant — Trade Brains (2026-07-25)
Andhra Pradesh Approves 2 Rare Earth Magnet Projects Worth ₹3,500 Crore — Trade Brains (reporting G.O.Ms. No. 136 and 137, 25 Jun 2026) (2026-06-30)
India's Announced $130 Million Magnet Bet: Can It Finally Challenge China's Rare Earth Grip? — Rare Earth Exchanges (2026-07)
AP Cabinet approves Rs 22,177 crore investments (Telugu) — Andhra Prabha (prabhanews.com) (2026-09-23)
N.A.N. GreenMet — Building India's Clean Energy Future — N.A.N. GreenMet (2026-09-29)
N. A. N. MAGNETECH PRIVATE LIMITED — InstaFinancials (MCA data aggregator) (2026-09-29)
Vedanta Leadership Team | Board of Directors — Vedanta Ltd (2026-09-29)
Notice of the 61st Annual General Meeting — Vedanta Ltd (2026-05-29)
Anil Agarwal replaces brother, for 1st time takes board position on Vedanta — Business Standard (2020-03-29)
N.A.N. GreenMet and Silox Form Joint Venture to Build India's Largest Critical Minerals Recycling Platform — Energetica India (2026-06-18)
Ministry of Heavy Industries receives 20 bids under the Scheme to Promote Manufacturing of Sintered REPM — Press Information Bureau, Government of India (2026-08-13)
Ministry of Heavy Industries invites global bids to set up rare earth magnet manufacturing units — All India Radio News (newsonair.gov.in) (2026-03-20)
India's Rare Earth Strategy (REPM scheme press note) — Press Information Bureau, Government of India (2025-11)

How this page is sourced

Everything here comes from public sources — company filings, annual reports, exchange announcements, government releases and trade press. Every figure is linked to the document it came from and carries the date that document was published, because a capacity number without a date is not a fact, it is a rumor with a decimal point.

What is deliberately absent: material nonpublic information. I have spent more than two decades in this industry and a good deal of what I know about these companies I learned under NDA. Those obligations do not expire and they do not bend for a website. Nothing I have been told in confidence appears here in any form, and nothing on this page — or missing from it — should be read as a signal about what I know privately. I hold NDAs absolutely. It is the reason clients tell me things.

Judgment is the other thing left out on purpose. This page reports what has been published and who published it. Whether a target is credible, whether a ramp will hold, whether a capacity figure survives contact with the plant behind it — that is the work I do for clients, and it does not belong in a free reference page.

Where public sources disagree, I say so rather than picking a winner. Where a figure has not been published, the field says so rather than carrying an estimate. An empty field is information too.

Public filings tell you what a company has said. Whether it holds up is a different question, and the one I get hired to answer.

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