JSW Group Inks Mou To Establish Integrated EV And EV Battery Manufacturing Project In Odisha

JSW Group Inks Mou To Establish Integrated EV And EV Battery Manufacturing Project In Odisha

Bhubaneswar: In a significant move aimed at bolstering Odisha’s presence in the electric vehicle (EV) industry, JSW Group has inked a Memorandum of Understanding with the Government of Odisha for the establishment of an Integrated Electric Vehicles (EV) and EV Battery Manufacturing Project in Cuttack and Paradeep.

The project will encompass EV vehicle and component manufacturing plants in Cuttack, while Paradeep will host a copper smelter and lithium refinery. This milestone marks JSW Group’s strategic foray into Odisha, amidst stiff competition from other states.

With an ambitious investment of Rs 40,000 crore, the project is poised to generate over 10,000 jobs, signifying a substantial boost in employment opportunities within the state. Additionally, it is expected to stimulate job creation in ancillary and support services, catalyzing the development of micro, small, and medium enterprises (MSMEs) and fostering a thriving ecosystem in the auto component supply chain and services sector.

Moreover, JSW Group’s commitment to skill development among the local workforce will ensure widespread benefits from industrial growth, enhancing the employability of Odisha’s youth in cutting-edge manufacturing processes.

The Odisha Government’s provision of a special package of incentives underscores its dedication to nurturing industrial growth and technological innovation. This initiative is poised to not only elevate Odisha’s industrial landscape but also significantly contribute to India’s EV manufacturing capabilities.

Addressing the occasion, Chief Minister Shri Naveen Patnaik hailed the project as a monumental leap forward in Odisha’s journey towards industrial excellence and sustainable development. He emphasized the state’s commitment to sustainable growth and its pivotal role in India’s industrial landscape.

JSW Group Inks Mou To Establish Integrated EV And EV Battery Manufacturing Project In Odisha

Chairman of JSW Group, Shri Sajjan Jindal, reiterated JSW’s commitment to Odisha, citing the state’s stable leadership, unparalleled support to industries, and robust resource and skill ecosystem as decisive factors in selecting Odisha for its inaugural EV unit.

Industries Minister Shri Pratap Dev lauded the Chief Minister’s vision, highlighting Odisha’s rapid strides in diversifying its industrial portfolio.

The event, attended by dignitaries including Shri V K Pandian, Chief Secretary Shri PK Jena, and representatives of leading industry associations, underscored the collaborative efforts between JSW Group and the Odisha Government to position the state as a frontrunner in India’s EV and green technology sectors.

The project encompasses a 50 GWH EV battery plant, EVs, a lithium refinery, a copper smelter, and related component manufacturing units, reflecting Odisha’s commitment to embracing green technology and fostering sustainable industrial growth.