Bhubaneswar: Ranjan Nayak, Executive Vice President Corporate Strategy of JSW Steel has said that ” JSW is not withdrawing its’ proposed Rs.40,000 Crore Electric Vehicle and Battery Making Project in Odisha”.
Shri Nayak has made it clear in a Press Statement released here on 24 September.
Sajjan Jindal-led JSW had signed an agreement with the Odisha Government to set up a Rs 40,000 crore electric vehicle (EV) and battery project in Cuttack and Paradip. Now, some media reported that the company is planning to shift the project to Maharashtra.
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 project with an investment of Rs 40,000 crore, was expected to create over 10,000 jobs for the youth, marking a significant growth in employment generation in the state, sources said.