The Odisha cabinet chaired by Chief Minister Naveen Patnaik approved a special incentive package for the JSW Group’s ambitious electric vehicle (EV) and component manufacturing projects in the state.

The Sajjan Jindal-led JSW Group has proposed to set up an EV and battery manufacturing unit at Naraj in Cuttack and another unit for manufacturing of EV components at Paradip with a combined investment of over Rs 40,000 crore.

The cabinet has cleared a proposal to provide land at a special concessional rate with a provision to pay in instalments over a period of five years and all external infrastructure, including four-lane road, 220 KV power and 10 cusecs of water at government cost.

Principal secretary of Industries department Hemant Sharma said the company will invest in four sectors - EV, battery, EV component and battery component.

These EV projects will generate employment opportunities for over 11,000 people and are set to usher in a new era of industrial growth and job creation in the state, he said.