Bhubaneswar: The JSW Group has confirmed that it is not withdrawing its Rs 40,000 crore electric vehicle (EV) and battery manufacturing project from Odisha, refuting recent media reports suggesting a shift to Maharashtra.
According to reports in the national media, Ranjan Nayak, Executive Vice President of Corporate Strategy in the Office of the Chairman and Managing Director has stated that they are not withdrawing from Odisha.
The clarification comes after media speculation about the company’s plans to relocate. In February 2024, the JSW Group signed a memorandum of understanding (MoU) with the Odisha government to establish an integrated EV and EV battery manufacturing project in the state.
The group has ambitious plans to set up an electric vehicle and component manufacturing plant in Naraj, located in Cuttack district, and a copper smelter and lithium refinery in Paradip, Jagatsinghpur district. The project includes a 50 GWh EV battery plant, along with manufacturing units for EVs, lithium refineries, copper smelters, and related components.
JSW’s announcement aims to dispel any confusion and reaffirm its commitment to Odisha’s industrial development.
