Vedanta Group company Runaya, a zero waste and zero discharge aluminium processing firm, plans to invest approx. Rs 1,000–1,200 crore in expanding its operations. Of this, Rs 300–500 crore has been earmarked for setting up rare earth element (REE) processing and magnet-making facilities, marking the company’s entry into a strategically important sector critical for green technologies and electronics manufacturing.

The remaining capital expenditure will be allocated towards doubling the capacity of its existing aluminium recycling facilities from 1,00,000 tonne to 2,00,000 tonne per annum over the next two years. This expansion aims to boost domestic recycling capability, promote resource efficiency, and further support the circular economy. According to Jagannath Prasad, CEO, Green Aluminium Recovery & Diversified Metal Recovery Business, Runaya is “seriously evaluating” the REE project.

The company is exploring options such as joint ventures with international partners, technology transfers, or strategic alliances. Discussions with global players are currently underway. The foray into REEs is expected to reduce import dependency and enhance India’s strategic manufacturing ecosystem.