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
Heating & Cooling Equipment
Ingersoll Rand Opens New Manufacturing Facility in Sanand, Gujarat
Ingersoll Rand’s new manufacturing facility in Sanand is one of its largest investments in India, and is set to begin production by the fourth quarter of fiscal year 2025.
Read moreRailways
NBC Bearings and iMRail Partner to Transform India’s Next-Gen Mobility Systems
The collaboration between NEI and iMRail marks a significant milestone in NEI’s expansion beyond its core bearings expertise into advanced mobility systems.
Read moreAuto & Auto Components
Revolt Motors Welcomes Roy Kurian as President to Lead Future Growth
Revolt Motors reinforces its commitment to global leadership, aiming to be India’s No.1 electric motorcycle brand and a major player in sustainable mobility worldwide.
Read moreRelated Products
Automotive Oil Pump
AUTO COMPONENTS & ACCESSORIES
Kalpak Auto Pvt Ltd offers a wide range of
automotive oil pump.
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
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
