Rare Earth Magnet Scheme: 20 bidders place bids for scheme worth Rs 7,280 Crore
The Ministry of Heavy Industries (MHI) has received 20 bids under the rare earth permanent magnets scheme worth Rs 7,280 Crore. According to MHI, the major bidders who placed bids under the scheme are:
- Prozeal Green Energy Limited
- Coal India Limited
- Lohum Magnets & Energy Solutions Private Limited
- Shankaranarayana Constructions Limited
- Attero Recycling Private Limited
- NEO Performance Materials (Singapore)
- Larsen & Toubro Limited
- Renew Private Limited
- Microns Limited
- Proterial (India) Limited
The selected bidders will establish integrated sintered neodymium-iron-boron rare earth permanent magnet manufacturing facilities in India. According to the government, the scheme aims to establish a total capacity of 6,000 metric tonnes per annum of integrated rare earth permanent magnet manufacturing facilities in India.
Also Read: Rare Earth minerals scheme: Government to invite bids worth Rs 7,280 crores