Odisha Chief Minister Naveen Patnaik throughout the MoU signing between JSW Group and State Industries Department-IPICOL for the institution of an Integrated Electric Vehicles (EV) and EV Battery Manufacturing Project at Cuttack and Paradip, in Bhubaneswar on February 10, 2024
| Photo Credit: ANI
JSW Group has signed a Memorandum of Understanding (MoU) with the Government of Odisha to set up an Integrated Electric Vehicles (EV) and EV Battery Manufacturing Project at Cuttack and Paradip in Odisha with an investment of ₹40,000 crore. The mega undertaking, the primary of its form in the jap state, is predicted to create 11,000 jobs.
The undertaking consists of a 50 GWH EV battery plant, EVs, Lithium refinery, Copper smelter and associated element manufacturing items.
JSW Group will set-up an EV & EV Battery Manufacturing Project at Naraj, Cuttack. The world-class superior technology-based Battery Manufacturing undertaking with capability of 50 GWH “will be the world’s largest single location project in the sector,” an individual acquainted with the undertaking stated.
The firm may also set-up an OEM Plant for Electric Vehicles and Components in the identical built-in complex. Electric Vehicle & its Battery manufacturing Investment will likely be made in two phases. JSW is planning to make investments ₹25,000 crore producing employment for greater than 4,000 individuals.
The EV Components Manufacturing Complex will come up on the port township of Paradip. This complex will comprise of Copper Smelter alongside with Lithium Smelter in the third section of its footprint in new-age sector.
In this section, JSW is planning to make investments ₹15,000 crore in the undertaking at Paradip producing employment for greater than 7,000 individuals.
Naveen Patnaik, chief minister, Odisha in a press release stated, “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 in a press release stated, “Our long-standing relationship with Odisha and its individuals kinds the muse of our new enterprise. This undertaking is a milestone in our journey, reflecting our dedication to the state’s growth and prosperity.
