Schedule a Call Back
JSW Group confirms Rs 400 billion EV project will stay in Odisha
Industry News- Sep 26,24
The original plan involved setting up an EV vehicle and component manufacturing plant in Naraj, Cuttack district, and a copper smelter and lithium refinery in Paradip, Jagatsinghpur district.
JSW Group clarified that it is not shifting its Rs 400 billion electric vehicle (EV) manufacturing project from Odisha to Maharashtra, as speculated in recent reports. The company reaffirmed its commitment to the state, where it had signed an MoU in February to establish an EV and battery manufacturing facility in Cuttack and Paradip.
Earlier, there were reports suggesting that the company was considering relocating the project to Aurangabad and Nagpur in Maharashtra. The original plan involved setting up an EV vehicle and component manufacturing plant in Naraj, Cuttack district, and a copper smelter and lithium refinery in Paradip, Jagatsinghpur district.
Ranjan Nayak, Executive Vice President of Corporate Strategy, JSW Group, addressed the rumors by stating, "We are not withdrawing from Odisha." The project includes a 50 GWh EV battery plant, along with a lithium refinery, copper smelter, and related component manufacturing units.
Odisha Industries Minister Sampad Swain also commented on the situation, saying the state government is in discussions with JSW regarding the project’s implementation. He acknowledged a delay but emphasised that the government is keen on seeing the project through. Swain added that the new BJP-led administration has secured Rs 450 billion worth of investments across various sectors within its first 100 days, signaling its focus on rapid industrialisation.
(Mint)
Related Stories
Electrical & Electronics
HARTING strongly believes in India’s economic growth: Frank Quast
In this interaction, Frank Quast, Head of Product Management Connectors Han, HARTING Electric Stiftung & Co KG, elaborates on emerging opportunities for his company in India.
Read moreElectrical & Electronics
Secure Meters is foraying into PCB manufacturing: Sanjiv Dhal
In this interview with Rakesh Rao, Sanjiv Dhal, CEO - APAC, Secure Meters Ltd, elaborates on the company's growth plans focusing on its diversification strategies.
Read moreOther Industrial Products
Showcasing India’s Supply Chain Revolution
The MultiLogistix Expo 2025, India’s first dedicated logistics and supply chain expo, will highlight innovations transforming India's logistics sector under PM Gati Shakti.
Read moreRelated Products
Tata Motors unveils facilities for development of Hydrogen propulsion tech
AUTO COMPONENTS & ACCESSORIES
Tata Motors, India?s largest automobile company, unveiled two state-of-the-art & new-age R&D facilities for meeting its mission of offering sustainable mobility solutions. The unveilings constitute of Read more
Tata Motors plans petrol powertrain for Harrier and Safari SUVs
AUTO COMPONENTS & ACCESSORIES
Tata Motors is in the process of developing a new petrol powertrain for its premium sports utility vehicles, the Harrier and Safari, as confirmed by a senior company official. Currently, these models Read more
Electric Vehicle Charger
AUTO COMPONENTS & ACCESSORIES
RRT Electro is engaged in manufacturing of customized Power Electronic Products over two decades having capability to Design, Develop, Prototyping, Regulatory Compliance testing & Certification, Manuf Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
