The bids have been acquired by way of a worldwide tender floated for the collection of producers below the Scheme to Promote Manufacturing of Sintered Uncommon Earth Everlasting Magnet (REPM), in keeping with a ministry press launch. The Ministry of Heavy Industries (MHI) mentioned it acquired the 20 bids by way of the World Tender on the CPP portal for choosing producers to determine built-in Sintered NdFeB Uncommon Earth Everlasting Magnet manufacturing services.
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In addition to L&T, Coal India and ReNew, the opposite bidders embody Attero Recycling, 20 Microns, Lohum Magnets & Power Options, NEO Efficiency Supplies (Singapore), Proterial (India) and Prozeal Inexperienced Power.
Scheme particulars
The scheme goals to determine a complete home manufacturing capability of 6,000 metric tonnes every year (MTPA) of built-in uncommon earth everlasting magnets. This capability will probably be allotted amongst 5 beneficiaries chosen by way of a worldwide aggressive bidding course of, with every beneficiary eligible for as much as 1,200 MTPA.
“The Scheme, a first-of-its-kind initiative, goals to determine a complete capability of 6,000 Metric Tons Per Annum (MTPA) of built-in Uncommon Earth Everlasting Magnet manufacturing services in India,” the ministry mentioned.The Union Cupboard authorised the scheme in November 2025 with an outlay of Rs 7,280 crore, and the Ministry of Heavy Industries floated the request for proposal in March this 12 months. The deadline for submitting bids was August 12, and technical bids have been opened on Thursday within the presence of bidders.
Uncommon earth everlasting magnets are crucial parts utilized in electrical autos, wind generators, high-end electronics, aerospace and defence programs. By means of the scheme, the federal government is in search of to construct an built-in home provide chain protecting your entire manufacturing course of, from neodymium-praseodymium (NdPr) oxide to completed magnets.
“By constructing an entire worth chain from NdPr oxide to completed magnets in India, the Scheme is predicted to considerably cut back import dependence on this sector,” the ministry mentioned.
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India at the moment depends closely on imports, significantly from China, for uncommon earth magnets a dependence that has drawn coverage consideration amid current world supply-chain disruptions in crucial minerals.
The scheme will run for seven years from the date of award, together with a two-year interval for establishing manufacturing services and 5 years for incentive disbursement on the sale of uncommon earth everlasting magnets. The federal government expects home manufacturing below the programme to strengthen the availability of crucial magnets to industries together with electrical mobility, renewable vitality, electronics and defence.
With ANI inputs
