New Delhi, March 20 -- The Ministry of Heavy Industries has invited global bids for setting up integrated manufacturing facilities for sintered rare earth permanent magnets (REPM) under a government scheme aimed at boosting domestic production.

According to an official statement, the Ministry has issued a Request for Proposal (RFP) to select beneficiaries for establishing NdFeB-based REPM manufacturing units with a total capacity of 6,000 metric tonnes per annum (MTPA).

"The release said, "With this bidding process, prospective applicants can submit their bids to establish integrated sintered NdFeB REPM manufacturing facilities in India and can be eligible for availing capital subsidy as well as sales-linked incentives under the Scheme....