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JSW Group signs MoU for Rs 40,000 cr EV project in Odisha
The Business Guardian
|February 12, 2024
The JSW group on Saturday signed a Memorandum of Understanding with the Odisha government for establishment of an Integrated Electric Vehicle (EV) and EV Battery manufacturing project at an investment of Rs 40,000 crore in the state.
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At Naraj in Cuttack district the JSW group will set up an EV vehicle, and component manufacturing plant, while at Paradip in Jagatsinghpur district, it will set up a copper smelter and lithium refinery.
The project consists of a 50 GWH EV battery plant, EV, lithium refinery, copper smelter and related component manufacturing units.
The MoU was signed two weeks after the state cabinet approved a special incentive package for the group's ambitious EV and component manufacturing projects at Naraj in Cuttack and Paradip in Jagatsinghpur district.
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