Bhubaneswar: In a major decision that promises to significantly boost the industrial and economic landscape of Odisha, the State Cabinet has approved a special incentive package for the JSW Group’s ambitious Electric Vehicle and component manufacturing projects in Naraj, Cuttack, and Paradip.
These projects, with a combined investment of over Rs 40000 crores and employment potential of over 11000, are set to usher in a new era of industrial growth and job creation in the state.
The JSW Group has proposed to set-up an EV & EV Battery Manufacturing Project at Naraj, Cuttack. The one-of-a-kind advanced technology-based Battery Manufacturing project with capacity of 50 GWH will be the world’s largest single location project in the sector.
The company is also planning to set-up an OEM Plant for Electric Vehicles and Components in the same facility in two phases. In these two phases, JSW is planning to invest Rs 25,000 crore in the state, generating employment for more than 4,000 people.
Further, JSW planned to set up EV Components Manufacturing Complex comprising of Copper Smelter along with Lithium Smelter at Paradip in the third pase of its footprint in new Age sector. In this phase, JSW is planning to invest Rs 15,000 crore in the State, generating employment for more than 7,000 people, according to an official release.
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