IREL announces ₹4,000 cr rare earth JV in Tamil Nadu
after close1 source ↓written by the desknot a recommendation
- in a rare
- ₹4,000 cr
- expected to create
- 4,000 jobs
IREL (India) Ltd. plans to invest ₹4,000 cr in a rare earth mining and processing facility in Tuticorin, expected to create 4,000 jobs. This project aims to establish a domestic supply chain for rare earth oxides, vital for permanent magnets used in EVs and other sectors. The initiative may attract additional industries to the region, enhancing local economic activity.
Not investment advice. For informational purposes only.