Lohum has announced plans to invest an estimated 2,500–3,000 INR-Crore by 2029 to establish an integrated rare earth magnet manufacturing plant in Meerut, Uttar Pradesh. The Uttar Pradesh Government has allotted an anticipated 50 Acres for the project. Lohum will develop the facility to strengthen domestic rare earth processing and magnet manufacturing capabilities.
The facility will produce 2,000 Metric Tonnes of rare earth magnets annually. Additionally, Lohum will manufacture rare earth magnet systems for electric vehicles, wind turbines, electronics, defence systems, and energy storage applications. The plant will integrate the entire value chain, from processing rare earth ores, oxides, and scrap to producing rare earth metals and finished magnets. Further, the company aims to achieve a revenue target of 10,000 INR-Crore by 2029 through expansion into refining, mining, rare earth processing, and advanced materials manufacturing.
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Once operational, the Lohum rare earth magnet plant will strengthen India’s domestic supply chain for critical minerals and advanced manufacturing. The project will also support the growing demand for rare earth materials across clean energy, mobility, electronics, and industrial sectors.
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