“The Bid Due Date has been extended from May 28 to June 29, while the opening of Technical Bids has been rescheduled from May 29 to June 30 to facilitate wider participation and provide additional time for stakeholders in the bidding process,” the ministry said in a statement.
The addendum has been uploaded on the Central Public Procurement (CPP) Portal.
The global tender was originally floated by the ministry on March 20 for selecting manufacturers as beneficiaries under the Scheme to Promote Manufacturing of Sintered REPM. The tender was looking for companies that would establish integrated rare earth permanent magnet manufacturing facilities in India.
The scheme was approved by the Union Cabinet chaired by Prime Minister Narendra Modi on November 26, 2025.
According to the ministry, the scheme is “a first-of-its-kind initiative” aimed at creating 6,000 metric tonnes per annum (MTPA) of integrated rare earth permanent magnet manufacturing capacity in India.
Rare earth permanent magnets are high-strength magnets used in electric vehicles, wind turbines, aerospace systems, defence equipment, and advanced electronics. The scheme specifically targets manufacturing of sintered NdFeB magnets, which are made using neodymium and praseodymium rare earth elements and are among the most powerful commercially used magnets globally.
The MHI said the scheme is aimed at creating a complete domestic manufacturing chain “from NdPr oxide to finished magnets in India”, which is expected to reduce dependence on imports in a sector currently dominated by overseas suppliers, especially China.
The total financial outlay of the scheme is ₹7,280 crore, including ₹750 crore as capital subsidy and ₹6,450 crore as sales-linked incentives for manufacturers.
The scheme, according to the MHI, is expected to “enhance self-reliance and position India as a key player in the global REPM market.”
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