REPM Manufacturing Scheme
- Context: The Ministry of Heavy Industries has extended the deadline for submitting global tenders under the scheme to promote the manufacturing of ‘Sintered Rare Earth Permanent Magnets’ (REPM).
About the REPM Manufacturing Scheme
- Objective: To establish an REPM manufacturing facility with a production capacity of 6,000 Metric Tonnes Per Annum (MTPA).
- Supports the complete manufacturing process:
- Rare earth oxides to metals
- Metals to alloys
- Alloys to finished REPMs
- Through this scheme, India aims to set up its first integrated REPM manufacturing facilities.
Key Features
- Total financial outlay: ₹7,280 crore
- Production capacity: 6,000 MTPA
- Beneficiaries: 5 companies (up to 1,200 MTPA each)
- Selection method: Global competitive bidding
- Duration: 7 years
About Rare Earth Magnets
- These are a type of permanent magnet made from alloys of rare earth elements.
- Properties: Compared to other types of magnets, they possess superior magnetic strength, high energy density, and excellent performance.
Types
- Neodymium (Nd-Fe-B): Composed of Neodymium, Iron, and Boron
- Samarium Cobalt (SmCo): Composed of Samarium and Cobalt
- Both are classified as powerful permanent magnets.
Applications
- Electric Vehicles (EVs)
- Renewable energy (wind turbines)
- Electronic devices
- Aerospace sector
- Defense equipment
