02-05-2024, 02:32 AM
Following is an from https://indianexpress.com/article/india/...l-9124466/
Quote:JSW Group proposes EV manufacturing projects in Odisha with investment potential of Rs 40,000 crore
In the third phase, the JSW Group has planned to set up an EV components manufacturing complex consisting of copper smelter and lithium smelter at Paradip in Jagatsinghpur district.
The Sajjan Jindal-led JSW Group has proposed electric vehicle (EV) manufacturing industrial projects in Odisha with an investment potential of Rs 40,000 crore and could create employment opportunities for 11,000 people.
The state Cabinet, led by Chief Minister Naveen Patnaik, has approved a special incentive package in terms of land, electricity, water and capital subsidy.
“The JSW Group has proposed to set-up an EV and EV battery manufacturing unit at Naraj in Cuttack district. The one-of-a-kind advanced technology-based battery manufacturing project with capacity of 50 GWH will be the world’s largest single location project in the sector,” said chief secretary P K Jena.
Jena said the company is also planning to set up an original equipment manufacturing plant for EVs and components in the Naraj facility in two phases. In these two phases, JSW is planning to invest Rs 25,000 crore in the state, generating employment for more than 4,000 people.
In the third phase, the JSW Group has planned to set up an EV components manufacturing complex consisting of copper smelter and lithium smelter at Paradip in Jagatsinghpur district. In this phase, JSW is planning to invest Rs 15,000 crore in the state, generating employment for more than 7,000 people.
As part of the special package, the Odisha government has approved providing 1,100 acres of land to JSW Group in Cuttack at a concessional rate, 220 KV of electricity and 10 cusecs of water from Mahanadi river. The company has also been assured of additional benefits, like capital subsidy of 20% of the project cost during a period of five years, said industries secretary Hemant Sharma.
The Odisha government has already identified land near Naraj, which is likely to be handed over to JSW Group for the EV manufacturing industrial projects, said Sharma.