The government's Rs 7,280-crore scheme to promote domestic manufacturing of rare earth permanent magnets has received 20 bids, including from Larsen & Toubro, Coal India and ReNew, for setting up integrated manufacturing facilities in the country, the Ministry of Heavy Industries said on Thursday.
The bids were received through a global tender floated for the selection of manufacturers under the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnet (REPM), according to a ministry press release. The Ministry of Heavy Industries (MHI) said it received the 20 bids through the Global Tender on the CPP portal for selecting manufacturers to establish integrated Sintered NdFeB Rare Earth Permanent Magnet manufacturing facilities.
