en.Wedoany.com Reported - Several Indian companies, including Reliance Industries, Vedanta, and Adani, have expressed interest in establishing rare earth mineral processing facilities in Andhra Pradesh to reduce India's dependence on China's rare earth elements.

According to sources familiar with the matter, around ten companies, including the three mentioned above, are interested in participating in the plan. Andhra Pradesh has 211 million tons of rare earth-bearing sand resources across 16 identified coastal deposits. Data from the Geological Survey of India shows that India's total rare earth ore reserves stand at 482.6 million tons.

In a draft government document, Andhra Pradesh proposed attracting 500 billion rupees (approximately $5.2 billion) in rare earth and titanium investments over the next decade, aiming to become one of the four rare earth "corridor" states identified in the federal budget. This corridor covers the entire chain from mining and processing to magnet production.

New Delhi has rolled out a series of policies to support the development of the rare earth industry. In November, the Indian government approved a 73 billion rupee plan to support rare earth magnet production. Despite India's substantial rare earth reserves, it lacks industrial facilities capable of processing metals to high-purity levels.

Andhra Pradesh plans to invite bids for the construction of rare earth metal mining facilities after the cabinet approves a policy for establishing a rare earth metal production chain. Sources said the approval is expected within a month. Additionally, the state will offer incentives and additional benefits for projects with investments of 10 billion rupees or more. A state minister stated in November last year that Andhra Pradesh is actively attracting major investments, including from Google and ArcelorMittal Nippon Steel, aiming to attract 1 trillion rupees in investment by 2029.

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