JSW to invest Rs.40,000 crore to set up EV, Batteries units in Odisha

Bhubaneswar: Sajjan Jindal-led JSW Group has proposed to establish manufacturing units for electric vehicles (EV), batteries, and other components in Cuttack and Jagatsinghpur districts, with a substantial investment of Rs 40,000 crore, according to Odisha Chief Secretary Pradeep Kumar Jena.

The  State Cabinet has granted approval for a special incentive package to support the ambitious EV and component manufacturing projects of JSW Group at Naraj in Cuttack and Paradip in Jagatsinghpur district. This marks the State’s inaugural venture into EV manufacturing.

These transformative projects, totaling an investment exceeding Rs 40,000 crore and offering employment opportunities for over 11,000 individuals, are poised to catalyze a new phase of industrial development and job creation within the state.

JSW Group’s proposal includes the establishment of an EV and EV battery manufacturing project in Naraj, Cuttack. Additionally, the company plans to construct an original equipment manufacturing (OEM) plant for EVs and components at the same location in two phases, involving an investment of Rs 25,000 crore and creating employment for more than 4,000 people.

Concurrently, in the third phase of expansion into the new age sector, the company envisions setting up an EV components manufacturing complex, encompassing a copper smelter and a lithium smelter, at Paradip. For this phase, JSW plans to invest Rs 15,000 crore, contributing to the employment of over 7,000 individuals, as highlighted by Shri Jena.