Rare Earth minerals scheme: Government to invite bids worth Rs 7,280 crores
The Union Ministry of Heavy Industries is likely to invite bids for Rare Earth Magnet Manufacturing. The tender worth Rs 7,280 crore will promote domestic manufacturing of 6,000 million tonnes per annum (MTPA) of magnets.
It is floated under the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets (REPM) to strengthen supply chains for the automotive, defence, and aerospace sectors.
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