Bhubaneswar: JSW Group has signed a pact with the Government of Odisha for the establishment of an Integrated Electric Vehicles (EV) and EV Battery Manufacturing Project.
In Cuttack, there will be EV Vehicle and Component Manufacturing plants and in Paradeep, it will set up a copper Smelter and Lithium Refinery.
The project consists of a 50 GWH EV battery plant, EVs, Lithium refinery, Copper smelter and related component manufacturing units.
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.
With an investment of Rs 40,000 crore, the project 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.
Furthermore, the 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, Chief Minister Shri Naveen Patnaik said that this day marks a great leap forward in our journey towards industrial excellence and sustainable development.
Powered by the 5T initiative, he continued, 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, he added.
He underscored that the project also heralds Odisha’s significant entry into the ever-growing automobile industry sector in India.
Through our collaboration with JSW Group, he added, 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.
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