No plans to shift Rs.40000 crore EV project to Maharastra from Odisha: JSW Group

Bhubaneswar: Sajjan Jindal-led JSW group has said that it is not withdrawing its 40,000 crore EV and battery project in Odisha. The company has clarified this after a media reported that the company is shifting the project to Maharastra.

Ranjan Nayak, Executive Vice President of Corporate Strategy at JSW Steel, has confirmed that the company is not withdrawing its proposed Rs 40,000 crore electric vehicle (EV) and battery manufacturing project in Odisha.

In a press statement released on September 24, Nayak clarified the company’s commitment to the project, addressing media reports suggesting a potential relocation to Maharashtra.

Under the leadership of Sajjan Jindal, JSW had signed an agreement with the Odisha government to establish the project across two locations: an EV and component manufacturing plant in Naraj, Cuttack district, and a copper smelter and lithium refinery in Paradip, Jagatsinghpur district. The project will include a 50 GWh EV battery plant, along with facilities for EV production, lithium refining, copper smelting, and related component manufacturing.

The Rs 40,000 crore investment is expected to create over 10,000 jobs, significantly boosting employment opportunities in the state, according to sources.