Odisha Cabinet Approves 14 Proposals, Welcomes 1st EV Manufacturing Project By JSW With Incentive Package

Bhubaneswar: The Odisha Cabinet approved 14 important proposals related to 12 departments at its meeting held in Bhubaneswar on Monday.

The Cabinet meeting was held in the conference hall of Lok Seva Bhawan under the Chairmanship of Chief Minister Naveen Patnaik.

After the meeting, Science and Technology Minister Ashok Chandra Panda and Chief Secretary Pradeep Kumar Jena told reporters that 14 agenda items related to 12 departments were approved in the Cabinet.

Out of 15 agenda items presented, 14 proposals were approved and one remained for further discussion, they said.

In a major decision that promises to significantly boost the industrial and economic landscape of the state, the Cabinet approved a special incentive package for the JSW group’s ambitious Electric Vehicle and component manufacturing projects at Naraj in Cuttack and Paradip in Jagatsinghpur district, they said.

These projects, with a combined investment of over Rs 40,000 crore and employment potential of over 11,000, are set to usher in a new era of industrial growth and job creation in the state.

The JSW Group has proposed to set up an EV and EV battery manufacturing project at Naraj with capacity of 50 GWH . It will be the world’s largest single location project in the sector. The company is also planning to set up an OEM Plant for EVs and components in teh same facility in two phases. In these two phases, JSW plans to invest Rs 25,000 crore in the state, generating employment for more than 4000 people.

This apart, JSW plans to set up EV components manufacturing complex comprising Copper smelter along with Lithium Smelter in Paradip in third phase of its footprint in this new age sector. In this phase, the company plans to invest Rs 15,000 crore in the state, generating employment for more than 7000 people.

In another decision, the Cabinet put its stamp of approval on Odisha Biotechnology Policy 2024. The Odisha Biotechnology Policy 2024 would create a flourishing ecosystem for biotechnology industry, the Chief Secretary said.

This will further promote higher education, research and infrastructure development in the sector and strengthen the supportive ecosystem for innovation, incubation, investment, income and impact to build enterprises.

The Cabinet also decided to expand Koraput coffee cultivation from existing 10,000 acre to 1 lakh acre with an investment of Rs 1144 crore. The cultivation will be done in six districts across the state.