Centre extends Rs 7,280-crore rare earth magnet scheme bidding timelines amid stakeholder demand

New Delhi: The Centre on Friday extended timelines for the Rs 7,280-crore scheme to promote the manufacturing of sintered rare earth permanent magnet (REPM). An official statement said this was in response to demands by multiple stakeholders.

"This is expected to facilitate wider participation and provide additional time for stakeholders in the bidding process," the statement said.

Under the revised timelines, the bid submission due date has been extended from May 28 to June 29. Dates for opening of technical bids have been rescheduled from May 29 to June 30.