JSW Group Inks MoU to Set Up First Mega Scale Integrated EV & EV Battery Manufacturing Project in Odisha


Reported By: Mahesh Nanda

Last Updated: February 10, 2024, 23:38 IST

The ambitious project, with an investment of Rs 40,000 crore, will help create over 10,000 jobs for the youth, marking a significant growth in employment generation in the state. (Image/News18)

The ambitious project, with an investment of Rs 40,000 crore, will help create over 10,000 jobs for the youth, marking a significant growth in employment generation in the state. (Image/News18)

While the EV and component manufacturing plants will be set up in Cuttack, a copper Smelter and a Lithium Refinery will be established in Paradeep

In a landmark move to strengthen Odisha’s position in the electric vehicle (EV) sector, JSW Group signed a Memorandum of Understanding (MoU) with the state government for the establishment of an Integrated Electric Vehicles And EV Battery Manufacturing Project at Cuttack and Paradeep.

The historic move marks JSW Group’s strategic entry into Odisha, amidst competitive offers from other states.

While the EV and component manufacturing plants will be set up in Cuttack, a copper Smelter and a Lithium Refinery will be established in Paradeep.

The ambitious project, with an investment of Rs 40,000 crore, will help create over 10,000 jobs for the youth, 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.

The JSW Group’s commitment to upskill 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.

Chief Minister Naveen Patnaik said that this day marks a great leap forward in the journey towards industrial excellence and sustainable development.

“Odisha is on a steady path of transformation. The establishment of the JSW Group’s Electric Vehicle manufacturing unit is a testament to our state’s evolving industrial landscape. This strategic move underscores our commitment to sustainable development, thereby, positioning Odisha as a pivotal player in India,” said Naveen Patnaik.

“This project will enhance the livelihoods of thousands of families and contribute to the socio-economic upliftment of our region. It will also catalyse the growth of MSMEs, spurring the development of a vibrant ecosystem of ancillary industries. The project also heralds Odisha’s significant entry into the ever-growing automobile industry sector in India and aligns perfectly with our vision to be at the forefront of adoption of green technology, reducing carbon emissions, and promoting eco-friendly mobility solutions,” he added.

Sajjan Jindal, Chairman, of JSW Group said that JSW chose Odisha for its first EV unit because of its stable leadership and the state government’s unparalleled support to industries, besides its resources and skill ecosystem.

“Odisha has all the potential to become a One Trillion Dollar economy. 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,” Sajjan Jindal said.

Industries Minister Shri Pratap Dev said that “the vision of the Chief Minister Patnaik is on the right trajectory. The state is catapulting into new areas of industrial growth with amazing speed.”

It is a strategic initiative 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 event was attended by Kartik Pandian, Charmain 5T Initiatives & Nabin Odisha, Chief Secretary PK Jena, Industry dept. Secretary Hemant Sharma, senior government officials and representatives of leading industry associations.

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