Bhubaneswar, February 10: The JSW Group on Saturday signed a Memorandum of Understanding (MoU) with the Government of Odisha for the establishment of an Integrated Electric Vehicles (EV) and EV Battery Manufacturing Project at Cuttack and Paradip in the presence of Chief Minister Naveen Patnaik and JSW Chairman Sajjan Jindal here.
While at Cuttack, there will be EV Vehicle, and Component Manufacturing plants, in Paradip it will set up copper Smelter and Lithium Refinery.
This historic moment marks JSW Group’s strategic entry into Odisha, amidst competitive offers from other states.
The ambitious project, with an investment of Rs 40,000 crore, will help create over 10,000 jobs for our youth, marking a significant growth in employment generation in the State.
Speaking on the occasion, the Chief Minister Naveen Patnaik said that this day marks a great leap forward in our journey towards industrial excellence and sustainable development.
He further said that this project will enhance the livelihoods of thousands of families and contribute to the socio-economic upliftment of our region. It will also catalyse the growth of MSMEs, spurring the development of a vibrant ecosystem of ancillary industries.
He underscored that the project also heralds Odisha’s significant entry into the ever growing automobile industry sector in India.
This project, the Chief Minister said, aligns perfectly with our vision to be at the forefront of adoption to green technology, reducing carbon emissions, and promoting eco-friendly mobility solutions.
“Through our collaboration with JSW Group, he added, 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,” said CM Patnaik.
Sajjan Jindal, Chairman, JSW Group highlighted JSW Group’s commitment to Odisha.
“JSW chose Odisha for its first EV unit for its stable leadership, State Govt’s unparalleled support to industries, besides its resources and skill ecosystem. Odisha has all the potential to become a One Trillion Dollar economy,” he added,
Industries Minister Pratap Deb and Chief Secretary Pradeep Jena among others present.