Autobayng News Team
The last date for submission of bids is May 28, 2026, while bidders can submit queries until April 22, 2026, as per the RFP guidelines.“>
The Ministry of Heavy Industries (MHI) on Tuesday held a pre-bid conference for its ‘Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet’, drawing participation from at least 25 companies.
The conference, held at India Habitat Centre, followed the release of a Request for Proposal (RFP) on March 20, 2026, inviting bids to set up integrated rare earth permanent magnet (REPM) manufacturing facilities with a total capacity of 6,000 MTPA under an outlay of ₹7,280 crore.
MHI said the bidding will be conducted online through a two-cover system comprising technical and financial bids under the Least Cost System (LCS) mechanism via the Central Public Procurement (CPP) portal.
The last date for submission of bids is May 28, 2026, while bidders can submit queries until April 22, 2026, as per the RFP guidelines.
The government plans to select up to five entities, each setting up facilities of up to 1,200 MTPA.
Focus on domestic manufacturing
REPMs are used in electric vehicles, renewable energy, electronics, aerospace and defence applications. The scheme covers the full manufacturing chain, including conversion of rare earth oxides to metals, metals to alloys, and alloys to finished magnets.
MHI said the initiative is aimed at building domestic manufacturing capacity, reducing import dependence and supporting the development of the REPM ecosystem in India.
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