JSW Group plans mega-scale integrated electric vehicle (EV) and EV battery project in Odisha.
In a landmark move set to strengthen Odisha’s position in the electric vehicle (EV) sector, JSW Group has signed a Memorandum of Understanding (MoU) with the Government of Odisha for the establishment of an Integrated Electric Vehicles (EV) And EV Battery Manufacturing Project at Cuttack and Paradeep. This historic moment marks JSW Group’s strategic entry into Odisha, amidst competitive offers from other states.
The ambitious project, with an investment of Rs 40,000 crore, will help create over 11,000 jobs, marking a significant growth in employment generation in the state. The project will also spur employment generation in ancillary and support services. It will catalyze MSME development, opening a plethora of opportunities in the auto component supply chain and services sector. Furthermore, JSW Group’s commitment to skilling the local workforce will ensure that the benefits of this industrial growth are widespread, enhancing the employability of the state’s youth in cutting-edge manufacturing processes.
The Odisha Government’s support through a special package of incentives for the project underlines the state’s commitment to fostering industrial growth and technological innovation. This initiative is expected to not only enhance Odisha’s industrial landscape but also contribute significantly to India’s EV manufacturing capabilities.
Speaking on the occasion, the Hon’ble Chief Minister of Odisha Shri Naveen Patnaik said, “We are keenly focused on leveraging the opportunities presented by the new age sectors, aiming to create high-skill job opportunities for the people of Odisha. Through our collaboration with JSW Group, we are setting the stage for a future where innovation drives our industrial growth, ensuring that the youth of Odisha have access to the skills and jobs that will define the next generation of economic development.”
Sajjan Jindal, Chairman, JSW Group highlighted JSW Group’s commitment to Odisha, “Our long-standing relationship with Odisha and its people forms the foundation of our new venture. This project is a milestone in our journey, reflecting our commitment to the state’s development and prosperity. By integrating our operations within Odisha’s vibrant ecosystem, we aim to create a symbiotic relationship that benefits all stakeholders, fostering growth and innovation, and generating numerous high-skilled job opportunities. It’s a testament to our belief in Odisha’s potential and our dedication to contributing positively to its economic landscape.”
This partnership between JSW Group and the Government of Odisha not only underscores the state’s attractive investment climate but also its strategic initiatives to position Odisha at the forefront of India’s EV and green technology sectors. The project consists of a 50 GWH EV battery plant, EVs, Lithium refinery, Copper smelter, and related component manufacturing units.
The MoU signing ceremony was attended by Hon’ble Chief Minister, Naveen Pattanaik; Pratap Keshari Dev, Minister Industries; V. K. Pandian, Chairman 5T Initiatives; Sajjan Jindal Chairman, JSW Group; Senior Officers of Govt of Odisha; representatives of leading industry associations, technical and professional educational institutions.