The Odisha government granted approval to 14 proposals, which encompass the JSW Group‘s initiative to establish electric vehicles projects and component manufacturing facilities in Cuttack and Jagatsinghpur districts. This substantial investment of Rs 40,000 crore for the project received the nod during the Cabinet meeting presided over by Chief Minister Naveen Patnaik.
JSW Group, a conglomerate based in India, operates across diverse sectors, including steel, energy, infrastructure, cement, and more. The group’s focus on innovation and cutting-edge technology has propelled its presence in electric vehicle (EV) and component manufacturing.
Backed by substantial investments, JSW is set to revolutionize the EV sector with projects in Naraj and Paradip, contributing significantly to industrial development and job creation in the region.
The JSW Group’s electric vehicle (EV) and component manufacturing projects in Naraj, Cuttack, and Paradip, Jagatsinghpur district, have received special incentive approval from the Cabinet, according to Chief Secretary, Pradeep Kumar Jena.
These projects, involving a total investment exceeding Rs 40,000 crore and potential employment for over 11,000 individuals, are poised to catalyze a new phase of industrial expansion and job opportunities in the state, he highlighted.
JSW’s plans include establishing an EV and EV battery manufacturing project in Naraj, with a subsequent two-phase development of an original equipment manufacturing (OEM) plant for EVs and components, amounting to a Rs 25,000 crore investment and over 4,000 jobs.
Additionally, a third-phase initiative in Paradip involves creating an EV component manufacturing complex, encompassing a copper smelter and a lithium smelter, with a proposed investment of Rs 15,000 crore and employment potential for more than 7,000 individuals.
In a strategic move to promote coffee plantation and sustainable livelihoods, the state cabinet also gave the green light to the ‘Coffee Plantation for Sustainable Livelihoods (CPSL)’ scheme, allocating a total budget of Rs 1,144 crore.
The initiative, set to unfold in six districts – Koraput, Rayagada, Kalahandi, Kandhamal, Keonjhar, and Gajapati – aims to expand the existing state coffee area from 10,000 to 1 lakh acres over a decade. Women self-help groups (SHGs) will play a key role in nurturing coffee nurseries, and the scheme is expected to benefit over 50,000 farm families.
Addressing a Supreme Court judgment, the Odisha government has decided to grant a minimum pension to 782 Ex-VLWs (village-level workers), necessitating an additional budgetary expenditure of Rs 90 crore for arrear minimum pension and Rs 11.38 crore per annum for ongoing minimum pension disbursement.
The cabinet also gave its nod to the Odisha Procurement Preference Policy for Micro and Small Manufacturing Enterprises 2023, which aims to benefit enterprises and startups with a turnover not exceeding Rs 50 crore per annum.
Furthermore, the cabinet approved amendments to the Odisha Government Land Settlement Rules, 1983, reducing the conversion fee for converting leasehold land of Odisha State Housing Board (OSHB) and development authorities for residential purposes.
The fee, which previously stood at 10% of the prevailing market value, will now be three percent of the land’s valuation, aiming to support small and micro manufacturing enterprises and startups in Odisha.
In infrastructure development, a construction tender worth Rs 329 crore for a 6,952-bed working women’s hostel at Seafood Park Deras in Khurda district gained cabinet approval. Additionally, the extension of the license period for fair price shop operators, from April 2024 to September 2024, was sanctioned by the state cabinet.