Bhubaneswar: In a significant development for Odisha’s industrial landscape, the JSW Group has unveiled plans to establish electric vehicle (EV) and component manufacturing units in the state, with a colossal investment of Rs 40,000 crore. These ambitious projects are poised to generate substantial employment opportunities, benefiting around 11,000 individuals.
The state government, recognizing the transformative potential of these initiatives, has extended a special incentive package to the JSW Group. The proposal received approval from the state Cabinet, presided over by Chief Minister Naveen Patnaik, as announced by Chief Secretary PK Jena.
JSW Group’s groundbreaking vision includes the establishment of an EV and EV battery manufacturing unit in Naraj, Cuttack, with a staggering investment of Rs 25,000 crore. This project is anticipated to be the world’s largest single-location venture in the EV sector, promising employment opportunities for 4,000 people, according to Jena.
Additionally, the corporate giant plans to set up an EV components manufacturing complex in Paradip, Jagatsinghpur district, with an investment of Rs 15,000 crore. This complex, expected to be a pivotal player in the EV supply chain, is estimated to generate employment for 7,000 individuals, enhancing the socio-economic fabric of the region, as highlighted by Jena.
The JSW Group’s commitment to these transformative projects aligns with the broader national goal of transitioning towards sustainable and eco-friendly modes of transportation, while simultaneously fostering economic growth and job creation.
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