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Odisha Cabinet has approved incentive package for the JSW Group’s Electric Vehice and component manufacturing projects

in Business January 22, 2024 Comments Off on Odisha Cabinet has approved incentive package for the JSW Group’s Electric Vehice and component manufacturing projects 351 Views

Bhubaneswar:22/1/24: In a major decision that promises to significantly boost the industrial and economic landscape of Odisha, the State Cabinet has approved a special incentive package for the JSW Group’s ambitious Electric Vehicle and component manufacturing projects in Naraj, Cuttack, and Paradip.

These projects, with a combined investment of over Rs 40000 crores and employment potential of over 11000, are set to usher in a new era of industrial growth and job creation in the state.

Electric Vehicle & its Battery Manufacturing The JSW Group has proposed to set up an EV & EV Battery Manufacturing Project at Naraj, Cuttack. 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.

The company is also planning to set up an OEM Plant for Electric Vehicles and Components in the same 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.

Electric Vehicle Component Manufacturing

Further, JSW planned to set up EV Components Manufacturing Complex comprising of Copper Smelter along with Lithium Smelter at Paradip in third phase of its footprint in new Age sector. In this phase, JSW is planning to invest Rs 15,000 crore in the state, generating employment for more than 7,000 people.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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