The Cabinet Committee meeting was held under the chairmanship of PM Modi. During the meeting, major decisions related to Rare Earth Permanent Magnet Manufacturing, expansion of Pune Metro, doubling of Devbhoomi Dwarka (Okha) – Kanalus railway line as well as third and fourth railway lines of Badalpura – Karjat were taken. Held under the chairmanship of Prime Minister Narendra Modi cabinet In the drawing room ‘sintered rare Meaning permanent magnets ‘Scheme to promote construction’ was approved. According to the information shared, it has been launched by the Government of India. rare Meaning permanent magnets (repm) ecology To promote the system, increase self-reliance and global repm This is a first-of-its-kind initiative to establish India as a major player in the market.
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Rare soil magnets are used in major industries, including electric vehicles, aerospace, Electronicsmedical equipment and defense. Information and Broadcasting Minister Ashwini Vaishnav told reporters, this scheme is rare. soil permanent magnets Will promote the construction of. Its aim is 6,000 metric tons per year (metric Tonnes per year) to create production capacity. The scheme aims to allocate total capacity to five beneficiaries through a global competitive bidding process. each 1,200 to the beneficiary metric Capacity up to tonnes per annum will be allocated.
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The total duration of this scheme will be 7 years from the date of award of the contract, in which integrated rare Meaning permanent magnets (repm) Period of 2 years for setting up manufacturing facility and repm 5 years are covered for distribution of incentive amount on sales of Rs. The total financial outlay of this scheme is Rs 7,280 crore for five years. repm Sales-related incentives of Rs 6,450 crore on sales of Rs 6,450 crore and a total of Rs 6,000 crore metric tons per year repm Rs 750 crore to set up manufacturing facilities Capital subsidy Is included.