The JSW Group Consortium has proposed a project to build an electric vehicle and battery factory in Naraj, which would be the largest single project in the sector worldwide, confirmed the office of the minister in a statement. The 40,000 crore rupees project aims to create 11,000 jobs and initiate a new era of industrial growth and job creation in Odisha.
Ashok Chandra Panda, the Minister of Public Enterprises in Odisha, told reporters that the battery project will have a capacity of 50 gigawatt-hours (GWh). The electric vehicle and component factory will be located on the same plot, built in two phases with an investment of 25,000 crore rupees. In the third phase, the group will invest 15,000 crore rupees in creating a manufacturing complex for electric vehicle components, including copper and lithium plants near the Paradip port, which will provide employment for over 7,000 people.
The details of the special incentive package were not disclosed in the government statement. JSW Group originally planned to enter the electric vehicle market through JSW Energy in 2017, but the plan did not succeed. In January 2023, it was reported that JSW Group intends to start electric vehicle production in India.
The Odisha state government has also approved a proposal to expand coffee plantation areas from the existing 10,000 acres to 1 lakh acres over the next 10 years. The “Coffee Plantations for Sustainable Living” program will be implemented in six tribal-inhabited regions such as Koraput, Rayagada, Kalahandi, Kandhamal, Keonjhar, and Gajapati. Women’s self-help groups will be involved in cultivating coffee nurseries as part of the project. An estimated 11.44 billion rupees will be allocated to this program by 2026-27.