Rare Earth Permanent Magnets among most powerful magnets in the world
The “Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet (REPM)” have received 20 bids through Global Tender on CPP portal for Selection of Manufacturers for establishing integrated Sintered NdFeB Rare Earth Permanent Magnet Manufacturing Facilities, the Ministry of Heavy Industries (MHI) said on 13 Aug.
The bids were submitted by:
20 Microns Limited
Attero Recycling Private Limited
BaRupOn – IRP Consortium
Coal India Limited
Jay Fe Cylinders Limited
Keystone Infra Pvt. Ltd – Huebox Interiors Pvt. Ltd. (JV)
Larsen & Toubro Limited
Lohum Magnets & Energy Solutions Private Limited
Midwest Energy Limited – Midwest Advanced Materials (JV)
N.A.N. Magnetech Private Limited
NEO Performance Materials (Singapore) PTE. LTD.
Nexon Geochem Private Limited
PrNd Metal and Magnets Pvt. Ltd.
Proterial (India) Limited.
Prozeal Green Energy Limited
Ramp Metals & Minerals Private Limited
Renew Private Limited
Shankaranarayana Constructions Limited
Solpro Greentech Private Limited
Starteck Finance Limited.
The REPM scheme was approved 26 Nov 2025 with a financial outlay of Rs.7,280 crore.
Request For Proposal (RFP) was floated on CPP portal on 20 March 2026. The pre-bid conference was held on 7 April 2026. The last date for receiving bids was 12 August 2026 on CPP portal and the Technical Bids were opened on 13th August 2026 in the presence of the bidders at MHI.
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.
The scheme envisions allocating the total capacity to five beneficiaries through a global competitive bidding process. Each beneficiary will be allotted up to 1,200 MTPA of capacity.
The total duration of the scheme will be 7 years from the date of award, including a 2-year gestation period for setting up an integrated REPM manufacturing facility, and 5 years for incentive disbursement on the sale of REPM.
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.
This initiative by the Indian Government is a landmark step towards strengthening the domestic REPM manufacturing ecosystem and enhancing competitiveness in global markets. By fostering indigenous capabilities in REPM production, the scheme will not only secure the REPM supply chain for domestic industries but also support the nation’s Net Zero 2070 commitment. It embodies the Government’s unwavering commitment to build a technologically self-reliant, globally competitive, and sustainable industrial base, in line with the vision of Viksit Bharat @2047, the Ministry said. fiinews.com
