JSW Group To Establish EV Manufacturing Project In Odisha

Bhubaneswar: The JSW Group has unveiled an extensive plan to establish electric vehicle (EV) and component manufacturing facilities in Odisha. These proposed ambitious projects, requiring an investment of Rs 40,000 crore, are expected to generate employment opportunities for approximately 11,000 individuals within the region, said PK Jena, Chief Secretary. 

In support of the JSW Group’s initiatives, the Odisha government has devised a special incentive package, marking a significant development in the state’s economic landscape. Shri Jena conveyed that the state Cabinet has formally endorsed the proposal.

As part of the proposed ventures, the JSW Group aims to construct an EV and EV battery manufacturing unit at Naraj in Cuttack, earmarking an investment of Rs 25,000 crore for this groundbreaking project. Envisioned as the world’s largest single-location project within the EV sector, it is expected to pave the way for employment opportunities for 4,000 individuals, according to Jena.

Furthermore, the JSW Group intends to establish an EV components manufacturing complex at Paradip in the Jagatsinghpur district, allocating an investment of Rs 15,000 crore. This strategic move is poised to create employment for an additional 7,000 people, contributing to the overall economic development of the region, as highlighted by Jena.