Mega Deal Makes Odisha Electric: JSW Group Plans Rs 40,000 Crore EV Hub

The Odisha government has greenlit 14 proposals, including the JSW Group's initiative to establish electric vehicle (EV) and components manufacturing units in Cuttack and Jagatsinghpur districts. The Cabinet, presided over by Chief Minister Naveen Patnaik on January 22, 2024, sanctioned a special incentive package for these projects, totaling an investment exceeding Rs 40,000 crore.

The upcoming facilities in Naraj, Cuttack, and Paradip, Jagatsinghpur, are poised to play a pivotal role in driving industrial growth, offering employment opportunities for over 11,000 individuals.

JSW Group's ambitious plans include the phased establishment of an original equipment manufacturing (OEM) plant for EVs and components in Cuttack, with a committed investment of Rs 25,000 crore. This initiative is projected to generate employment for more than 4,000 people.

Furthermore, JSW aims to set up an EV components manufacturing complex, incorporating a copper smelter and a lithium smelter, in Paradip during the third phase of development. With an investment of Rs 15,000 crore, this phase is expected to create employment for over 7,000 individuals, contributing significantly to the region's economic vitality.

News by Rahul Yelligetti