JSW Group signed an agreement with the Government of Odisha to set up an Integrated Electric Vehicles (EV) and EV Battery Manufacturing Project in Odisha. The mega project is expected to generate 11,000 jobs with an investment of INR 40,000 crore.

Feb 10, 2024

JSW Group and the Government of Odisha have recently signed a Memorandum of Understanding (MoU) to set up an Integrated Electric Vehicles (EV) and EV Battery Manufacturing Project at Cuttack and Paradip in Odisha. With an investment of INR 40,000 crore, the mega project is the first of its kind in the eastern state and is expected to create 11,000 jobs. The project includes a 50 GWH EV battery plant, EVs, lithium refinery, copper smelter, and related component manufacturing units. As per reports, this is expected to be the world’s largest single-location project in the sector. An OEM plant for EV and its components will also be set up by the company in the same integrated complex.

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The company plans to invest in two phases. In the first phase, JSW Group plans to invest INR 25,000 crore generating over 4,000 jobs. Additionally, the EV Components Manufacturing Complex will be set up at Paradip. This complex will consist of a copper smelter and a lithium smelter in the third phase of its footprint in the new-age sector. In this phase, the group plans to invest INR 15,000 crore in the project at Paradip generating employment for more than 7,000 people.

Mr. Naveen Patnaik, chief minister, Odisha in a statement said, “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.”

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Mr. Sajjan Jindal, Chairman, JSW Group in a statement said, “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.”