Ministry of Heavy Industries Hosts Successful Pre-Bid Conference for Magnet Manufacturing
The Ministry of Heavy Industries (MHI) recently held a pre-bid conference for its new scheme to promote the manufacturing of Sintered Rare Earth Permanent Magnets in India. The conference, aimed at potential bidders, saw participation from 25 companies. The project involves setting up facilities with a capacity of 6,000 metric tons per annum (MTPA) and has a budget allocation of ₹7,280 crore. It aims to boost domestic production, reduce imports, and enhance India's global competitiveness in the magnet industry.
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