Odisha clears incentive package for JSW Group’s electric vehicle, battery plants | Latest News India - Hindustan Times
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Odisha clears incentive package for JSW Group’s electric vehicle, battery plants

ByDebabrata Mohanty
Jan 22, 2024 08:13 PM IST

The JSW Group’s proposed electric vehicles and battery manufacturing project at Naraj will be the world’s largest single-location project in the sector, the CMO said

BHUBANESWAR: The Naveen Patnaik-led Odisha cabinet on Monday approved a special incentive package for the Sajjan Jindal-led conglomerate JSW Group’s electric vehicle and component manufacturing projects in Naraj, Cuttack and Paradip, saying they involve a combined investment of 40,000 crore, hold the potential to create 11,000 jobs and “usher in a new era of industrial growth and job creation in the state”.

A charging plug is seen on an electric vehicle (REUTERS FILE/REPRESENTATIVE IMAGE)
A charging plug is seen on an electric vehicle (REUTERS FILE/REPRESENTATIVE IMAGE)

The JSW Group’s proposed electric vehicles and battery manufacturing project at Naraj will be the world’s largest single-location project in the sector, the chief minister’s office said in a post on X, formerly Twitter.

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Odisha’s public enterprises minister Ashok Chandra Panda told reporters that the battery project will have a capacity of 50-gigawatt hour (GWh). The electric vehicles and component plant will be set up at the same location in two phases with an investment of 25,000 crore.

The group will also set up an EV components manufacturing complex comprising a copper smelter along with a lithium smelter near Paradip port in the third phase with a proposed investment of 15,000 crore in the state, generating employment for more than 7,000 people.

The government statement did not release the details of the special incentive package.

The group initially planned to enter the EV segment via JSW Energy in 2017, but the plan did not take off. In January 2023, it was reported that JSW group is looking to enter the manufacturing of electric vehicles in India.

The state cabinet also approved a proposal to expand the coffee plantation area from the current 10,000 acres to 1 lakh acres over the next 10 years. The scheme “Coffee Plantation for Sustainable Livelihoods (CPSL)” will be implemented in six tribal-dominated districts of the state such as Koraput, Rayagada, Kalahandi, Kandhamal, Keonjhar and Gajapati with the involvement of women SHGs for raising coffee nurseries. Around Rs. 1144.00 crore will be spent till 2026-27 in this scheme.

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