New Delhi, April 7 At least 25 companies, including JSW Group, Vedanta, Hindustan Zinc Ltd (HZL), and NLC India, participated in a pre-bid conference for the Rs 7,280-crore scheme to promote the manufacturing of sintered rare earth permanent magnets, organized by the heavy industries ministry on Tuesday, sources said.
The government will select a maximum of five entities through the bidding process, with each entity setting up facilities of up to 1,200 MTPA, resulting in a total capacity of up to 6,000 MTPA.
"We welcome the Ministry of Heavy Industries' forward-looking scheme to promote rare earth permanent magnet manufacturing, a crucial component for industries like EV, aerospace, defense, and consumer electronics. We are assessing this opportunity as it aligns with our focus on critical minerals and presents a horizontal expansion opportunity," a Vedanta spokesperson told
