Overview
- The Ministry of Heavy Industries issued an RFP to select companies to build integrated sintered NdFeB rare earth permanent magnet plants totaling 6,000 MTPA.
- Bidding runs on the CPP Portal under a two-stage Least Cost System, with a pre-bid on April 7, bids due May 28, and technical bids opened May 29, 2026.
- Financial support includes Rs 750 crore in capital subsidies and Rs 6,450 crore in sales-linked incentives for selected beneficiaries.
- Each winner will be allotted 600–1,200 MTPA of capacity in 100-MTPA increments, with limited assured NdPr oxide supply from IREL for the three lowest bidders.
- The programme targets an end-to-end domestic value chain for magnets used in EVs, wind turbines, electronics, aerospace and defence to cut import dependence on China.