The Odisha government has approved JSW Group’s ambitious plan to build electric vehicle (EV) and component manufacturing factories in Cuttack and Jagatsinghpur districts with a large investment of Rs 40,000 crore.
The JSW Group’s EV projects in Naraj, Cuttack, and Paradip, Jagatsinghpur, have a unique incentive package authorized by the Cabinet, chaired by Chief Minister Naveen Patnaik. With a combined investment of over Rs 40,000 crore and the creation of over 11,000 jobs, these projects are expected to significantly boost the state’s industrial growth and job prospects.
With an investment of Rs 25,000 crore, the JSW Group plans to establish an OEM facility for EVs and components in Naraj, Cuttack, as well as an EV and EV battery production project. The business also intends to invest Rs 15,000 crore to build an EV component manufacturing center in Paradip.
The “Coffee Plantation for Sustainable Livelihoods (CPSL)” initiative, which would provide Rs 1,144 crore to support coffee plants in six Odisha districts, was also approved by the state cabinet. Over 50,000 farm households will profit from this program, which seeks to increase the current coffee area from 10,000 to 1 lakh acres over a ten-year period.
Furthermore, amendments to the Odisha Government Land Settlement Rules, 1983, were approved to reduce the conversion fee for the conversion of leasehold land into freehold for residential purposes.
Other approvals included additional budgetary expenditures for granting a minimum pension to Ex-VLWs (village-level workers), the Odisha Procurement Preference Policy for Micro and Small Manufacturing Enterprises 2023, a tender for the construction of a working women’s hostel, and the extension of fair price shop licenses.
The cabinet also sanctioned the Odisha Biotechnology Policy 2024, aiming to boost the biotechnology ecosystem in the state by providing subsidies and financial assistance to biotechnology units.
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