<p>The <a href="https://www.mid-day.com/news/india-news/article/vande-bharat-trains-centre-seeks-state-support-to-expand-network-23621485" target="_blank" rel="none noopener">Centre</a> on Friday invited bids for setting up manufacturing facilities for 6,000 metric tonnes per annum (MTPA) of rare earth permanent magnets under the Rs 7,280-crore Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet (REPM), reported news agency PTI.</p>
<p>The move is aimed at boosting domestic production and reducing dependence on imports for critical materials used in advanced technologies.</p>
<h2>Bids invited for integrated magnet manufacturing units</h2>
<p>The Ministry of Heavy Industries has issued a Request for Proposal (RFP) to select companies for establishing integrated manufacturing units for Sintered NdFeB rare earth permanent magnets, reported PTI.</p>
<p>The bidding process will be conducted online through the Central Public Procurement Portal using a transparent two-stage system comprising technical and <a href="https://www.mid-day.com/news/india-news/article/haryana-tops-list-as-centre-removes-ineligible-ration-cards-under-digitised-pds-reforms-23621260" target="_blank" rel="none noopener">financial evaluations</a> under the Least Cost System.</p>
<h2>Key dates for bidding process</h2>
<p>According to the ministry, a pre-bid conference is scheduled for April 7, while the last date for submission of bids is May 28. Technical bids will be opened on May 29, 2026, reported PTI.</p>
<p>The structured timeline is expected to facilitate smooth participation from industry players.</p>
<h2>Incentives and subsidies under scheme</h2>
<p>The scheme provides substantial financial support to selected companies. A total of Rs 750 crore has been earmarked for <a href="https://www.mid-day.com/news/india-news/article/centre-approves-four-lane-highway-upgrade-in-madhya-pradesh-to-improve-ujjain-connectivity-to-delhi-mumbai-expressway-23620214?news-world-news-video-breakingnews" target="_blank" rel="none noopener">capital subsidies</a>, while Rs 6,450 crore has been allocated for sales-linked incentives, reported PTI.</p>
<p>Each selected beneficiary will be assigned production capacity ranging from 600 MTPA to 1,200 MTPA, in multiples of 100 MTPA.</p>
<p>Additionally, the three lowest bidders will receive limited assured supply of NdPr oxide from IREL (India) Ltd., ensuring access to critical raw materials required for production, reported PTI.</p>
<h2>Focus on reducing import dependence</h2>
<p>Rare earth permanent magnets, especially NdFeB magnets, are essential components in sectors such as electric vehicles, wind energy, electronics, aerospace and defence, reported PTI.</p>
<p>Currently, India relies heavily on imports, particularly from <a href="https://www.mid-day.com/news/india-news/article/russian-oil-tanker-bound-for-china-reroutes-to-india-amid-global-energy-crisis-23621439" rel="none">China</a>, for these materials.</p>
<h2>Building domestic value chain</h2>
<p>The scheme aims to create a complete domestic value chain &mdash; from processing NdPr oxide to manufacturing finished magnets &mdash; strengthening India&rsquo;s position in the global supply chain, reported PTI.</p>
<p>It is expected to support the country&rsquo;s push towards self-reliance in critical technologies and enhance competitiveness in emerging sectors.</p>
<h2>Strategic push for advanced manufacturing</h2>
<p>Approved by the <a href="https://www.mid-day.com/news/world-news/article/union-cabinet-eases-press-note-3-rules-moves-to-relax-fdi-curbs-on-neighbouring-countries-23620256" target="_blank" rel="none noopener">Union Cabinet</a> last year, the initiative is part of a broader strategy to develop high-tech manufacturing capabilities in India, reported PTI.</p>
<p>Officials said the scheme will not only boost industrial growth but also support clean energy and mobility transitions by ensuring a steady supply of key components.</p>
<h2>(With inputs from PTI)</h2>

The Centre on Friday invited bids for setting up manufacturing facilities for 6,000 metric tonnes per annum (MTPA) of rare earth permanent magnets

Govt invites bids for rare earth magnet units under Rs 7,280 crore scheme

DGCA asks airlines to avoid 9 West Asia airspaces, restrict flying below 32,000 feet

The Ministry of Heavy Industries has issued a Request for Proposal (RFP) to select companies for establishing integrated manufacturing units for Sintered NdFeB rare earth permanent magnets

Govt invites bids for rare earth magnet units under Rs 7,280 crore scheme

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast

Home / News / India News / Article / Govt invites bids for rare earth magnet units under Rs 7,280 crore scheme

Govt invites bids for rare earth magnet units under Rs 7,280 crore scheme

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast