Bhubaneswar: The Odisha Cabinet Monday approved a special incentive package for JSW group’s Electric Vehicle (EV) and component manufacturing project in the state.
The project, official sources said, with a combined investment of Rs40,000 crores would be set up in Naraj, Cuttack and Paradip.
This project has an employment potential of 11,000, the source added.
The JSW has proposed to set up an EV and EV battery manufacturing unit at Naraj, Cuttack. It will be one of its kind of advanced technology with a capacity of 50 GWH and will be the World’s largest single location project, the source informed.
The company is also planning to set up an OEM plant for electric vehicles and components in the same facility in two phases. The JSW is planning to invest Rs25,000 crores generating employment for more than 4000 people, the source added.
The JSW is also planning to set up an EV components and manufacturing complex comprising a copper smelter along with a Lithium smelter at Paradip in the third phase with an investment of Rs15,000 crores generating employment opportunities for more than 7,000 people, the source concluded.
UNI