New Delhi: The Ministry of Heavy Industries has extended timelines for a global tender under the scheme to promote manufacturing of Sintered Rare Earth Permanent Magnet (REPM) to facilitate wider participation and provide additional time for stakeholders in bidding process, an official statement said on Thursday.
The bid due date has been moved from June 29, 2026 to July 29, 2026 and the opening of technical bids has been rescheduled from June 30, 2026 to July 30, 2026, due to demand for timeline extension by stakeholders, the statement from ministry said.
The global tender was invited by the Ministry on March 20, 2026 for selection of manufacturers as beneficiaries under the REPM scheme to establish integrated rare earth permanent magnet manufacturing facilities in India.
In this bidding process, prospective applicants can submit their bids to establish integrated sintered NdFeB REPM manufacturing facilities in India and can be eligible for availing capital subsidy as well as sales-linked incentives under the Scheme.
The bidding will be conducted online through a transparent Least Cost System (LCS) comprising two-stages (Technical Bid and Financial Bid) through Central Public Procurement (CPP) Portal.
The Addendum has been published on the Central Public Procurement (CPP) Portal for information of all stakeholders. The Union Cabinet, in November 2025, approved the scheme with a financial outlay of Rs 7,280 crore.
REPM is a first-of-its-kind scheme, 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.
(IANS)
