NOVEMBER 20268TOP STORIESRare earth magnet manufacturing is gaining momentum in India as Coal India has sought zero production-linked incentives under the Centre's scheme for establishing domestic rare earth permanent magnet facilities. The state-owned coal producer is among the bidders seeking to manufacture sintered neodymium-iron-boron (NdFeB) magnets, which are essential for electric vehicles, wind turbines, electronics and defense equipment.Hyderabad-based IRP Infratech, in consortium with US-based BaRupOn, has also submitted a zero-incentive bid. Their bids come as the Ministry of Heavy Industries advances its Rs 7,280 crore program to establish 6,000 metric tons of annual domestic manufacturing capacity. The Ministry of Heavy Industries has opened financial bids under the rare earth permanent magnet manufacturing scheme. Coal India and the IRP Infratech­BaRupOn consortium have sought nil per-kilogram production incentives, unlike other bidders. VC manufacturing is gaining importance in India as Adani Enterprises advances its Rs 26,000 crore integrated production complex at Mundra, Gujarat. The project forms part of a larger investment cycle, with the company planning annual capital expenditure of Rs 35,000­40,000 crore over the next two years. The proposed facility will have an initial production capacity of 1 million tons per annum (MTPA), alongside related chemical and chlor-alkali operations.With around 60 percent of the project's construction and expenditure completed, the development raises questions about domestic production capacity, India's reliance on imported PVC and the potential for downstream industrial supply chains. Adani Enterprises, through its subsidiary Mundra Petrochemicals Limited, is developing an integrated PVC manufacturing complex with a planned initial capacity of 1 MTPA. Solar capacity expansion is gaining momentum at KPI Green Energy as the company energizes additional capacity across two renewable energy projects in Bharuch, Gujarat. The latest addition of 171.5 MWp takes the cumulative energized capacity under these projects to 811.5 MWp against a planned 1,027 MWp. Backed by a Rs 3,200 crore financing sanction from State Bank of India (SBI), the projects highlight the company's growing Independent Power Producer (IPP) business.The development also raises questions about how quickly KPI Green can complete the remaining capacity, strengthen its long-term power supply agreements and build recurring revenue from its renewable energy assets. KPI Green Energy has energized an additional 171.5 MWp across its solar and hybrid power projects at Bharuch, Gujarat. Financing is an important part of KPI Green Energy's renewable energy expansion. In September 2025, the company secured a Rs 3,200 crore sanction from State Bank of India, comprising fund-based and non-fund-based facilities. A Rs 6,200 crore semiconductor packaging facility will be established in Madhya Pradesh through a partnership between Paras Semiconductors and US-based BroadPak Corporation. The project, planned along the Ujjain-Indore corridor, will begin with a monthly capacity of 10,000 wafers, with plans to scale beyond 50,000 wafers. The partnership also targets more than 10 million packaged units per month at full production. With around 90 percent of output intended for exports, the facility could give India a larger role in the global semiconductor supply chain.Its production roadmap, technology partnerships and customer pipeline will be key to achieving these ambitions. The proposed semiconductor packaging facility will be developed in phases, with an initial capacity of 10,000 wafers per month, with plans to increase the capacity over time to more than 50,000 wafers monthly over the next six to seven years. At full production capacity, the facility is expected to manufacture more than 10 million packaged units every month. ADANI'S RS 26,000 CR PVC MANUFACTURING PLANT IN MUNDRAKPI GREEN ENERGY'S SOLAR CAPACITY HITS 811.5 MWP MILESTONEPARAS-BROADPAK'S RS 6,200 CR SEMICONDUCTOR PACKAGING FACILITYCOAL INDIA TARGETS RARE EARTH MAGNET MANUFACTURING WITHOUT SOPS
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