Home » Business » JSW Group has signed an MoU with the Odisha Government for the establishment of an Integrated Electric Vehicles (EV) and EV Battery Manufacturing Project

JSW Group has signed an MoU with the Odisha Government for the establishment of an Integrated Electric Vehicles (EV) and EV Battery Manufacturing Project

Bhubaneswar:10/2/24:In a landmark move set to strengthen Odisha’s position in the electric vehicle (EV) sector, JSW Group has signed an MoU with the Odisha Government for the establishment of an Integrated Electric Vehicles (EV) and EV Battery Manufacturing Project at Cuttack and Paradip.

On the occasion, CM Naveen Patnaik said that the day marks a great leap forward in the State’s journey towards industrial excellence and sustainable development. Powered by the 5T initiative, CM continued, Odisha is on a steady path of transformation.

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CM mentioned that the establishment of JSW Group’s Electric Vehicle manufacturing unit is a testament to the state’s evolving industrial landscape. This strategic move underscores the State’s commitment to sustainable development, positioning Odisha as a pivotal player in India, CM added.

CM further said that the project will enhance the livelihoods of thousands of families and contribute to the socio-economic upliftment of the region. It will also catalyze the growth of MSMEs, spurring the development of a vibrant ecosystem of ancillary industries, CM added. He underscored that the project also heralds Odisha’s significant entry into the ever-growing automobile industry sector in India.

The ambitious project, with an investment of ₹40,000 Cr, will help create over 10,000 jobs for youths, marking a significant growth in employment generation in the state. The project will also spur employment generation in ancillary and support services. It will catalyze MSME development, opening many opportunities in the auto component supply chain and services sector.

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While at Cuttack, there will be EV Vehicle and Component Manufacturing plants; in Paradip, Copper Smelter and Lithium Refinery will be set up. This historic moment marks JSW Group’s strategic entry into Odisha, amidst competitive offers from other states.

Shri Sajjan Jindal, Chairman, of JSW Group highlighted their commitment to Odisha. He said that JSW chose Odisha for its first EV unit because of its stable leadership and the state Government’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.

 

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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