Odisha Cabinet Gives Green Signal to JSW Groups EV Manufacturing Projects Worth Rs 40,000 Crore

The Odisha government has given its approval to 14 proposals, including the JSW Group's ambitious plan to establish electric vehicle (EV) and component manufacturing units in Cuttack and Jagatsinghpur districts. This significant investment of Rs 40,000 crore is expected to bring about a new era of industrial growth and job creation in the state.

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JSW Group's EV Manufacturing Projects

The JSW Group's EV manufacturing projects are set to transform the state's industrial landscape. The group plans to set up an EV and EV battery manufacturing facility in Naraj, Cuttack, with an investment of Rs 25,000 crore. This project alone is expected to generate employment opportunities for over 4,000 individuals.

In addition, JSW Group intends to establish an original equipment manufacturing (OEM) plant for EVs and components in the same facility. This second phase of the project will further enhance the state's manufacturing capabilities and create even more jobs.

Furthermore, JSW Group has plans to set up an EV components manufacturing complex in Paradip, Jagatsinghpur district. This third phase of the company's investment in Odisha will involve the construction of a copper smelter and a lithium smelter. With an investment of Rs 15,000 crore, this project is expected to generate employment opportunities for over 7,000 people.

Other Notable Proposals

Apart from the JSW Group's EV manufacturing projects, the Odisha government has approved several other proposals that aim to promote sustainable development and economic growth in the state.

The Coffee Plantation for Sustainable Livelihoods (CPSL) scheme has been approved with a total outlay of Rs 1,144 crore. This scheme aims to promote coffee plantation in six districts of Odisha, expanding the existing coffee area from 10,000 acres to 1 lakh acres over a period of 10 years. Women self-help groups (SHGs) will play a crucial role in raising coffee nurseries, and more than 50,000 farm families are expected to benefit from this initiative.

The Odisha government has also decided to amend the Odisha Government Land Settlement Rules, 1983, to reduce the conversion fee for converting leasehold land of the Odisha State Housing Board (OSHB) and development authorities for residential purposes into freehold. This move is expected to simplify the process and make it more affordable for individuals to convert their leasehold land into freehold.

In a significant decision, the state cabinet has approved additional budgetary expenditure to provide minimum pension to 782 Ex-VLWs (village-level workers) who had approached the Supreme Court in this matter. This decision demonstrates the government's commitment to ensuring the welfare of its former employees.

The Odisha Procurement Preference Policy for Micro and Small Manufacturing Enterprises 2023 has also been approved by the state cabinet. This policy aims to benefit Odisha small and micro manufacturing enterprises (OSMEs) and startups by giving them preference in government procurement processes.

Other proposals that received approval include the construction of a 6,952-bed working women's hostel at the seafood park Deras in Khurda district, the extension of licenses for fair price shops for a period of six months from April 2024 to September 2024, and the Odisha Biotechnology Policy 2024.

The Odisha government's approval of these 14 proposals, particularly the JSW Group's EV manufacturing projects, marks a significant step towards the state's economic development and industrial growth. These initiatives are expected to create thousands of jobs, boost the manufacturing sector, and enhance the overall socio-economic well-being of the state.