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May 17, 2022updated 27 Jul 2022 5:18pm

Construction commences on $46m Fort Worth Rare Earth Magnet Manufacturing Plant in the US

By Carmen

Construction work on the $46m Fort Worth Rare Earth Magnet Manufacturing Plant located in Fort Worth, Texas, the US commenced in Q2 2022. It was announced in Q4 2021.

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The project involves the construction of an 18,581m2 manufacturing facility in Fort Worth, Texas, the US.

The project includes the following:

1. Construction of production units2. Construction of a storage facility3. Construction of parking spaces4. Installation of machinery and equipment5. Installation of safety and security system

Construction on the project is expected to be completed by Q4 2023.

Owners of the project include the US-based MP Materials.

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