The Ministry of Heavy Industries conducted a pre-bid conference in New Delhi for potential bidders interested in the ‘Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets’ (REPM), with 25 companies participating. Detailed presentations on the scheme’s specifics, key RFP provisions, and bidding process procedures were shared by ministry officials during the conference. Queries from participants were addressed, and bidders were informed that the deadline to submit queries via email is April 22, 2026.
The bidding process, scheduled for May 28, 2026, will follow a transparent two-stage online procedure under the Least Cost Selection (LCS) mechanism through the CPP Portal. Eligibility requirements, submission of a Detailed Project Report (DPR) as per RFP guidelines, and LCS-based selection of technically qualified bidders are key criteria for selection. Up to five entities will be chosen, each establishing facilities of up to 1,200 MTPA, collectively reaching the 6,000 MTPA target.
The Ministry of Heavy Industries had previously issued a Request for Proposal (RFP) to solicit bids for setting up integrated REPM manufacturing facilities in India, aiming for a total capacity of 6,000 metric tonnes per annum (MTPA) with an outlay of Rs 7,280 crore. REPMs, known for their strength, are crucial for various sectors like electric vehicles, renewable energy, electronics, aerospace, and defense applications. The scheme aims to support the development of integrated facilities covering the entire value chain from rare earth oxides to metals, alloys, and finished REPMs.
Union Minister Dr. Jitendra Singh highlighted in a recent Parliament session that India possesses around 8.52 million tonnes of rare earth oxide resources. The Atomic Minerals Directorate for Exploration and Research has identified 7.23 million tonnes of total rare earth oxide equivalent in monazite deposits across several states. Additionally, 1.29 million tonnes of rare earth resources have been found in hard rock terrains in Gujarat and Rajasthan.
