Electric Vehicle and Battery Manufacturing Plant in Odisha: JSW Group Announcement

By | January 23, 2024
Electric Vehicle and Battery Manufacturing Plant in Odisha JSW Group Announcement

Bhubaneswar: The JSW Group, has proposed the establishment of an Electric Vehicle and Battery manufacturing unit with an investment of Rs 40,000 crore near Naraj in Odisha’s Cuttack district. The state Cabinet has approved the JSW Group’s proposal, anticipating that the electric vehicle manufacturing project would generate approximately 11,000 to 12,000 employment opportunities.

In a significant development for Make In Odisha, the Odisha Cabinet has granted a special incentive package for JSW Group’s Electric Vehicle and Battery, component manufacturing projects in Naraj, Cuttack, and Paradip. These projects, with a combined investment of Rs 40,000 crore and employment potential of over 11,000, are poised to usher in a new era of industrial growth and job creation in the state, as stated by Chief Secretary Pradeep Kumar Jena.

The JSW Group’s proposed Electric Vehicle and Battery Manufacturing Project at Naraj is expected to be the world’s largest single-location project in the sector. The company is also planning to establish an OEM Plant for electric vehicles and components in the same facility in two phases. Additionally, the cabinet approved the Biotechnology Policy 2024, aiming to promote the biotechnology ecosystem in the state.

Source: The Hindu

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