New Delhi, April 7 – The Ministry of Heavy Industries (MHI) organized a pre-bid conference here on Tuesday for prospective bidders under the 'Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets' (REPM), attracting participation from at least 25 companies.
During the conference, ministry officials made detailed presentations on the scheme's features, key Request for Proposal (RFP) provisions, and the procedural aspects of the bidding process.
The conference addressed participant queries, and bidders were informed that the deadline for submitting queries via email is April 22, 2026.
The bidding process will be conducted online in a transparent two-stage manner under the Least Cost Selection (LCS) mechanism through the CPP Portal, with the final bid submission deadline set for May 28, 2026, according to the government.
Key selection criteria include meeting eligibility requirements, submitting a Detailed Project Report (DPR) according to RFP guidelines, and selection of technically qualified bidders based on the LCS mechanism, it said.
In addition, a maximum of five entities will be selected, each establishing facilities of up to 1,200 MTPA, cumulatively reaching the 6,000 MTPA target.
The MHI had earlier released the Request for Proposal (RFP), inviting bids to set up integrated REPM manufacturing facilities in India with a total capacity of 6,000 metric tonnes per annum (MTPA) and a scheme outlay of Rs 7,280 crore.
REPMs, among the strongest permanent magnets, are critical for electric vehicles, renewable energy, electronics, aerospace, and defense applications.
The scheme supports the establishment of integrated facilities, covering the entire value chain from rare earth oxides to metals, alloys, and finished REPMs.
The MHI said that the initiative is expected to boost domestic manufacturing, reduce import dependence, and create a globally competitive REPM ecosystem in India.
Earlier in the Parliament session, Union Minister Dr. Jitendra Singh said that India holds rare earth oxide resources of approximately 8.52 million tonnes.
The minister also stated that the Atomic Minerals Directorate for Exploration and Research has identified 7.23 million tonnes of total rare earth oxide equivalent contained in monazite deposits across Andhra Pradesh, Odisha, Tamil Nadu, Kerala, West Bengal, Jharkhand, Gujarat, and Maharashtra.
An additional 1.29 million tonnes of rare earth resources have been identified in hard rock terrains in Gujarat and Rajasthan, according to him.
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