Dikhyaa Mohanty 
With the Odisha government, the JSW Group has inked a Rs 40,000 crore agreement to establish an electric vehicle (EV) and electric vehicle battery manufacturing plant in Cuttack and Paradip. On February 10, a memorandum of agreement was signed in this respect. The company intends to invest Rs 25,000 crore in Cuttack for its battery production complex and electric car, and the remaining Rs 15,000 crore would go toward aPradip’s EV component manufacturing plant.
A 50 GWH EV battery plant, EVs, a lithium refinery, a copper smelter, and other component manufacturing units make up the project. Over 11,000 jobs are expected to be created, which would represent a notable increase in the state’s employment generation. Additionally, the project will promote the creation of jobs in support and ancillary services. It will spur MSME growth and create a wealth of opportunities in the automotive services and supply chain.
Odisha CM Naveen Pattanaik said: “We are keenly focused on leveraging the opportunities presented by the new age sectors, aiming to create high-skill job opportunities for the people of Odisha. 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.”
Sajjan Jindal, Chairman, JSW Group, 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. By integrating our operations within Odisha’s vibrant ecosystem, we aim to create a symbiotic relationship that benefits all stakeholders, fostering growth and innovation, and generating numerous high-skilled job opportunities. It’s a testament to our belief in Odisha’s potential and our dedication to contributing positively to its economic landscape.”
