JSW Group not withdrawing ₹40,000 crore EV manufacturing project from Odisha

Sajjan Jindal's JSW group is not withdrawing ₹40,000 crore EV manufacturing project from Odisha to Maharashtra, the firm said in a press statement on Tuesday.

Earlier reports arrived that the firm is mulling to shift the EV and battery manufacturing project from Odisha.

The firm signed an MoU with the Odisha government in February to set up EV and battery manufacturing project in Cuttack and Paradip. But, then reports arrived that the conglomerate was considering Aurangabad and Nagpur in Maharashtra as the new sites of its project.

According to details, the JSW group had planned to set up an EV vehicle and component manufacturing plant at Naraj in Cuttack district. While it proposed to establish a copper smelter and lithium refinery at Paradip in Jagatsinghpur district.

On being asked about the media report, Ranjan Nayak, executive vice president of corporate strategy of JSW group said, as quoted by PTI, "We are not withdrawing from Odisha".

The project consists of a 50 GWH EV battery plant, EV, lithium refinery, copper smelter and related component manufacturing units.

After the Odisha government approved a special incentive package for the group's ambitious EV and component manufacturing projects, the MOU was signed.

Odisha's minister replies:

Odisha Industries Minister Sampad Swain on Tuesday said the state government was talking to the JSW group about implementing the EV project in the state amid reports that the company is planning to shift its project to Maharashtra.

He added that the state government was not aware of the company's plans.

"Though MoU was signed in February this year and the previous government had not allocated land for the JSW's project. Now, we are talking to the company to set up its plants. We are not informed regarding the shifting of the plant from Odisha. However, there is a delay in the implementation of the project," PTI quoted Swain as saying over phone.

He added that the new BJP government has attracted investment of ₹45,000 crore in various sectors like chemicals, semiconductors, steel pipes and others within first 100 days in office.

"The government is serious about rapid industrialisation of the state," Swain said.

With agency inputs.