New Delhi, Aug 13 (IANS) The Ministry of Heavy Industries (MHI) on Thursday said it received 20 bids through global tender for selection of manufacturers for establishing integrated Sintered Rare Earth Permanent Magnet Manufacturing Facilities under the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet (REPM).
The scheme, a first-of-its-kind initiative, aims to establish a total capacity of 6,000 Metric Tons Per Annum (MTPA) of integrated Rare Earth Permanent Magnet manufacturing facilities in India, thereby enhancing self-reliance and positioning India as a key player in the global REPM market.
It envisions allocating the total capacity to five beneficiaries through a global competitive bidding process. Each beneficiary will be allotted up to 1,200 MTPA of capacity.
“The total duration of the scheme will be 7 years from the date of award, including a 2-year gestation period for setting up an integrated REPM manufacturing facility, and 5 years for incentive disbursement on the sale of REPM,” said the ministry.
Rare Earth Permanent Magnets are among the most powerful magnets in the world and are widely used in electric vehicles, wind turbines, high-end electronics, aerospace and defence systems.
By building a complete value chain from NdPr oxide to finished magnets in India, the Scheme is expected to significantly reduce import dependence in this sector, the minister observed.
By fostering indigenous capabilities in REPM production, the scheme will not only secure the REPM supply chain for domestic industries but also support the nation’s Net Zero 2070 commitment.
On November 26, 2025, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved the REPM scheme with a financial outlay of Rs 7,280 crore.
Request For Proposal (RFP) was floated on CPP portal on March 20, 2026. The pre-bid conference was held on April 7, 2026. The last date for receiving bids was August 12, 2026, on CPP portal and the technical bids were opened on August 13 in the presence of the bidders.
–IANS
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