JSW Group Confirms Commitment to Rs 40,000 Crore EV Project in Odisha

The JSW Group has dispelled rumors of withdrawing its Rs 40,000 crore electric vehicle and battery project from Odisha. The project, entailing manufacturing units for EVs and components, will be set up in Naraj and Paradip. Despite media speculations, the Odisha government and JSW are committed to the venture.

The JSW Group has reaffirmed its commitment to the Rs 40,000 crore electric vehicle (EV) and battery project in Odisha, dismissing recent media reports suggesting a shift to Maharashtra.

Executive Vice President Ranjan Nayak stated, "We are not withdrawing from Odisha," emphasizing their dedication. Earlier, the JSW Group signed a memorandum of understanding with the Odisha government on February 10, 2024, for an integrated EV and EV battery manufacturing project.

The proposed plan includes an EV vehicle and component manufacturing plant at Naraj in Cuttack district, and a copper smelter and lithium refinery at Paradip in Jagatsinghpur district. Odisha Industries Minister Sampad Swain confirmed ongoing discussions with JSW for the project's implementation, stressing that the current government is keen on rapid industrialization of the state.

(With inputs from agencies.)