The MHI has extended the bid submission timeline for the global tender issued under the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets (REPM), aiming to encourage broader stakeholder participation.
The Bid Due Date has been extended from 29 June 2026 to 29 July 2026 as per the official notification issued on 25 June 2026. Hence, the date of opening of Technical Bids has been extended from 30th June, 2026 to 30th July, 2026. The Ministry said the extension was granted in response to requests received from multiple stakeholders who wanted more time to participate in the bidding process.
The corresponding addendum has been published on the Central Public Procurement (CPP) Portal for the information of all interested parties.
The global tender, originally floated on March 20, 2026, seeks to identify manufacturers that will be selected as beneficiaries under the REPM scheme for establishing integrated rare earth permanent magnet manufacturing facilities in India.
The Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet was approved by the Union Cabinet, chaired by Prime Minister Narendra Modi, on November 26, 2025, with a financial outlay of ₹7,280 crore. As a first-of-its-kind initiative, the scheme aims to establish an annual manufacturing capacity of 6,000 metric tonnes (MTPA) of integrated rare earth permanent magnets in the country.
Permanent magnets made from rare earth are essential elements in electric vehicles, wind turbines, sophisticated electronics, and aerospace and defence applications. The establishment of an end-to-end value chain in India, from Neodymium-Praseodymium (NdPr) oxide processing to finished magnet production, is anticipated to substantially decrease India’s import dependence and bolster the country’s standing in the global REPM market.
The scheme forms part of India’s broader strategy to build resilient supply chains for critical minerals and support the expansion of clean energy and advanced manufacturing sectors.
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