India invests Rs.7,280cr on 6,000 MTPA REPM facilities
More than 25 companies took part in the pre-bid conference organised by the Ministry of Heavy Industries (MHI) for prospective bidders for the ‘Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet’, Ministry of Heavy Industries said on 7 Apr.
The conference followed the release of Request for Proposal (RFP) on 20 Mar inviting bidders for setting up integrated Rare Earth Permanent Magnet (REPM) manufacturing facilities in India for a total manufacturing capacity of 6,000 MTPA with a Scheme outlay of Rs.7,280 crore.
A detailed presentation was made to the prospective bidders covering the Scheme contours, major provisions of RFP and procedural aspects of the bidding process. The participants were informed that the last date to submit their queries by way of e-mail (as per details provided in RFP) is 22 Apr.
The participants were also informed that the bidding will be held online through a transparent two stage process, under the Least Cost System (LCS) mechanism through CPP Portal. The last date for submitting the bids is 28th May 2026.
Key features of the selection process include fulfilment of the eligibility criteria, submission of a Detailed Project Report (DPR) as per format provided in RFP and LCS based selection for technically qualified bidders. The Government will select maximum of 5 entities through the bidding process, with each entity setting up facilities of up to 1,200 MTPA, aggregating to a total of up to a maximum capacity of 6,000 MTPA.
REPMs are one of the strongest types of permanent magnets and are vital for electric vehicles, renewable energy, electronics, aerospace, and defence applications. The Scheme will support the creation of integrated REPM manufacturing facilities, PM India involving conversion of rare earth oxides to metals, metals to alloys, and alloys to finished REPMs.
This Scheme is expected to play a key role in strengthening domestic manufacturing capabilities, reducing import dependence, and supporting the development of a robust and globally competitive REPM ecosystem in India, the Ministry said. fiinews.com
