Monday, April 15, 2024

JSW Group to set up EV manufacturing units in Odisha; Cabinet approves incentive package – N.F Times

Bhubaneswar: The JSW Group has proposed to set up electric vehicle (EV) and component manufacturing units in Odisha.

The corporate house will set up the ambitious projects with an investment of Rs 40,000 crore. The projects are likely to create employment opportunities for 11,000 people in Odisha.

The Odisha government will provide a special incentive package for the proposed projects of the JSW Group. The state Cabinet headed by Chief Minister Naveen Patnaik today approved a proposal in this regard, said Chief Secretary PK Jena.

According to Jena, the JSW Group has proposed to set up an EV and EV battery manufacturing unit at Naraj in Cuttack with an investment of Rs 25,000 crore. This will be world’s largest single location project in the EV sector and it is likely to create employment for 4,000 people, said Jena.

Similarly, the JSW Group has planned to set up EV components manufacturing complex at Paradip with an investment of Rs 15,000 crore. The unit will create employment for 7,000 people, Jena added.

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