The JSW Group has formally entered into a Memorandum of Understanding (MoU) with the Government of Odisha to establish a cutting-edge Integrated Electric Vehicles (EV) and EV Battery Manufacturing Project. This venture is set to be located in the cities of Cuttack and Paradip, aiming to contribute to the nation's green energy initiatives.
With a proposed investment of ₹40,000 crore, the integrated electric vehicles and EV battery manufacturing project is aimed to generate over 11,000 job opportunities.
The comprehensive project encompasses the establishment of a state-of-the-art 50 GWH Electric Vehicle battery plant.
Additionally, the initiative includes the manufacturing of Electric Vehicles, a Lithium refinery, a Copper smelter, and related component manufacturing units.
Chief Minister of Odisha, Shri Naveen Patnaik said, "We are keenly focused on leveraging the opportunities presented by the new age sectors, aiming to create high-skill job opportunities for the people of Odisha. Through our collaboration with JSW Group, we are setting the stage for a future where innovation drives our industrial growth, ensuring that the youth of Odisha have access to the skills and jobs that will define the next generation of economic development."
Shri Sajjan Jindal, Chairman of JSW Group said, "By integrating our operations within Odisha's vibrant ecosystem, we aim to create a symbiotic relationship that benefits all stakeholders, fostering growth and innovation, and generating numerous high-skilled job opportunities."
First Published: Feb 10, 2024 2:27 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP holds meeting in Delhi as polling underway for 5th phase
May 20, 2024 4:21 PM
UP Police arrests man after viral videos shows him voting multiple times
May 20, 2024 2:18 PM