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Govt's Rs 7,280 crore rare earth magnet scheme draws 20 bids, including L&T, Coal India, ReNew
Twenty bids were received for the government's rare earth magnet manufacturing scheme. This initiative aims to establish 6,000 metric tonnes of domestic production capacity. The scheme will support industries like electric vehicles and renewable energy sectors. It seeks to build a complete value chain from oxide to finished magnets. The program will run for seven years after facility setup and incentive disbursement.
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economictimes.indiatimes.com
L&T plans to manufacture rare-earth magnets in India to challenge China’s dominance
Larsen & Toubro is planning to bid for Indias incentives to manufacture rare-earth magnets domestically, people familiar with the matter said. The move would mark a new business…
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thehindubusinessline.com
L&T joins India’s race to build rare-earth magnet supply chain outside China
The engineering giant is preparing to bid for a ₹7,280-crore incentive scheme aimed at building domestic capacity for the critical industrial component.
