Bhubaneswar: Sajjan Jindal-led JSW Group has proposed to set up an electric vehicle and battery manufacturing unit with an investment of Rs 40,000 crore near Naraj in Odisha’s Cuttack district.
The state Cabinet today approved the proposal of the JSW Group.
Chief Secretary Pradeep Kumar Jena said the electric vehicle manufacturing project would help generating about 11,000 to 12,000 employment opportunities.
In a major boost to Make In Odisha, the Odisha Cabinet has approved a special incentive package for JSW Group’s electric vehicle and component manufacturing projects in Naraj, Cuttack and Paradip.
These projects, with a combined investment of Rs 40,000 crore and employment potential of over 11,000, are set to usher in a new era of industrial growth and job creation in the state, said Jena.
The JSW Group’s proposed EV and Battery Manufacturing Project at Naraj 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.
The cabinet also approved Biotechnology Policy 2024. The policy aims to promote biotechnology ecosystem in the state.