The Ministry of Heavy Industries (MHI) organized a pre-bid conference on April 7, 2026, for prospective bidders under the 'Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet,' receiving participation and interest from at least 25 companies.
MHI issued the Request for Proposal (RFP) on March 20, 2026, inviting bids for establishing integrated Rare Earth Permanent Magnet (REPM) manufacturing facilities in India. The scheme targets a total manufacturing capacity of 6,000 MTPA with a scheme outlay of ₹7,280 Crore.
During the conference at the India Habitat Centre in New Delhi, a detailed presentation covered the Scheme's contours, major provisions of the RFP, and procedural aspects of the bidding process. MHI addressed queries raised by the participating bidders, informing them that the deadline to submit queries via e-mail, as detailed in the RFP, is April 22, 2026.
The bidding process is scheduled to occur online through a transparent two-stage process utilizing the Least Cost System (LCS) mechanism via the CPP Portal. Bidders have until May 28, 2026, to submit their bids.
Key selection features for this Rare Earth Permanent Magnet manufacturing bid include adherence to eligibility criteria, the submission of a Detailed Project Report (DPR) following the format provided in the RFP, and LCS based selection for technically qualified bidders. The bidding process intends to select a maximum of five entities, with each entity establishing facilities of up to 1,200 MTPA, collectively reaching a maximum capacity of 6,000 MTPA.
REPMs are recognized as a strong type of permanent magnet crucial for applications in electric vehicles, renewable energy, electronics, aerospace, and defence. This Scheme aims to support the establishment of integrated REPM manufacturing facilities, encompassing the conversion of rare earth oxides to metals, metals to alloys, and finally to finished REPMs.
This initiative is anticipated to strengthen domestic manufacturing capabilities, reduce import dependence, and support the growth of a globally competitive REPM ecosystem within India.
The key timelines and selection structure for the manufacturing facility are summarized below:
| Detail | Date / Criterion | Value |
|---|---|---|
| RFP Release Date | March 20, 2026 | N/A |
| Pre-bid Conference Date | April 7, 2026 | N/A |
| Last Date for Queries | April 22, 2026 | N/A |
| Bid Submission Due Date | May 28, 2026 | N/A |
| Total Target Capacity | N/A | 6,000 MTPA |
| Scheme Outlay | N/A | ₹7,280 Crore |
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