JSW Group, one of India’s leading conglomerates, has signed a historic Memorandum of Understanding (MoU) with the government of Odisha. Under this agreement, the JSW Group will establish an integrated Electric Vehicle (EV) and EV battery manufacturing project in Cuttack and Paradip. This ambitious project, with an investment of ₹40,000 crores, is expected to generate employment for over 11,000 people.
**Job Creation in Odisha**
This significant project will play a crucial role in job creation in Odisha, enhancing opportunities in auxiliary and support services. It is poised to boost the development of Micro, Small, and Medium Enterprises (MSMEs), opening up numerous possibilities in the automobile component supply chain and service sector. JSW Group is also committed to training the local workforce, ensuring that the benefits of industrial development are widespread, contributing to the improved employability of the state’s youth.
**Key Contribution to India’s EV Manufacturing Capabilities**
The support from the Odisha government for this project demonstrates a commitment to boosting the state’s industrial development and technological innovation. This initiative not only aims to enhance Odisha’s industrial landscape but also makes a significant contribution to India’s EV manufacturing capabilities.
**Foundation for the Future**
Odisha’s Chief Minister, Naveen Patnaik, stated, “We are focusing on harnessing opportunities presented by emerging sectors, with the goal of creating high-skilled employment opportunities for the people of Odisha. Through our partnership with JSW Group, we are laying the foundation for a future where innovation drives our industrial development, ensuring that the youth of Odisha have access to defined skills and jobs in the next economic era.”
**Statement from JSW Group Chairman**
Sajjan Jindal, Chairman of JSW Group, remarked, “Our long-standing association with Odisha and its people is the bedrock of our new venture. This project marks a crucial milestone in our journey and showcases our commitment to the state’s development and prosperity. By aligning our actions within the vibrant ecological framework of Odisha, our goal is to create symbiotic relationships for all stakeholders, fostering development and innovation while generating numerous opportunities for highly skilled employment. Our dedication is evident in our belief in Odisha’s capabilities and our positive contribution to its economic landscape.”
**Components of the Project**
The project will include the establishment of a 50 GWh EV battery plant, EV manufacturing units, lithium refinery, copper smelter, and related manufacturing components. The signing ceremony for the MoU saw the presence of Chief Minister Naveen Patnaik, Industries Minister Pratap Keshari Deb, 5T Initiative Chairman V.K. Pandian, JSW Group Chairman Sajjan Jindal, senior officials of the Odisha government, representatives of major industry associations, and dignitaries from technical and vocational educational institutions.
