The Ministry of Heavy Industries has invited global bids for setting up integrated Sintered NdFeB Rare Earth Permanent Magnet manufacturing facilities with a total capacity of 6 thousand metric tonnes per annum under the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets. The  Ministry informed that the bidding process will be conducted online through a transparent two-stage Least Cost System on the Central Public Procurement Portal. Tender documents are available from today, while the last date for submission of bids is 28th May. Technical bids will be opened on 29th May, and a pre-bid conference is scheduled for 7th April.

 

It added that the scheme, approved by the Union Cabinet chaired by Prime Minister Narendra Modi in November last year, has a financial outlay of over 7 thousand two hundred crore rupees. It aims to develop domestic manufacturing capacity for rare earth permanent magnets and strengthen India’s position in the global market. Selected beneficiaries will be eligible for capital subsidy and sales-linked incentives under the scheme, along with a limited assured supply of raw material from IREL (India) Ltd.

 

Rare Earth Permanent Magnets are critical components used in electric vehicles, wind energy, electronics, aerospace and defence sectors. The initiative is expected to boost self-reliance and reduce import dependence in this strategic segment.