Despite its mining and refining strengths, India lacks midstream capacity to produce rare-earth magnets, leaving manufacturers entirely dependent on imports.
A pre-bid meeting will be held on 7 April in New Delhi, following which interested parties can bid for magnet-making capacity in the range of 600-1,200 tonnes, according to the global tender floated by the scheme’s project management agency, Industrial Finance Corporation of India (IFCI).
Technical bids will be opened on 29 May. Bidders will have to pay ₹4.5 lakh as the tender fee and ₹1 crore as earnest money deposit.
Each bidder must submit a technical bid that includes a detailed project report (DPR) and a financial bid that specifies the incentive sought and the price at which it will sell the magnets. This will be the selling price regardless of whether the oxides are sourced from IREL or elsewhere.
