IREL to invest ₹4,000 crore in Tuticorin

IREL (India) Ltd is set to establish an integrated rare earth mining and processing facility in Tuticorin with an investment of ₹4,000 crore. The project is expected to generate approximately 4,000 direct and indirect jobs for the region. The facility will produce rare earth oxides, which serve as essential raw materials for manufacturing permanent magnets used in electric vehicles, wind turbines, aerospace, and defense sectors. According to IREL CMD S.B. Mohanty, the project will strengthen the domestic supply chain for these critical materials and encourage industrial clustering by attracting midstream and downstream industries to the area.