Bid due date for global tender moved to 29 June 2026
The Ministry of Heavy Industries (MHI) has extended timelines for global tender under Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet (REPM) as a response to demand for same by multiple stakeholders and the Government’s response to queries of bidders will be issued on 9 June 2026.
The Bid Due Date has been extended from 28 May 2026 to 29 June 2026, while the opening of Technical Bids has been rescheduled from 29 May 2026 to 30 June 2026 to facilitate wider participation and provide additional time for stakeholder in bidding process.
The Addendum has been published on the Central Public Procurement (CPP) Portal for information of all stakeholders. (https://eprocure.gov.in/eprocure/app).
The global tender was invited by the Ministry on 20 March 2026 for selection of manufacturers as beneficiaries under REPM scheme to establish integrated rare earth permanent magnet manufacturing facilities in India.
On 26 November 2025, the Cabinet had approved the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet with a financial outlay of Rs.7,280 crore. The Scheme, a first-of-its-kind initiative, aims to establish a total capacity of 6,000 Metric Tons Per Annum (MTPA) of integrated Rare Earth Permanent Magnet manufacturing facilities in India, thereby enhancing self-reliance and positioning India as a key player in the global REPM market.
Rare Earth Permanent Magnets are among the most powerful magnets in the world and are widely used in electric vehicles, wind turbines, high-end electronics, aerospace and defence systems. By building a complete value chain from NdPr oxide to finished magnets in India, the Scheme is expected to significantly reduce import dependence in this sector, the Ministry said. fiinews.com
