Bhubaneswar, Sep 24: Amid reports that Sajjan Jindal-led JSW Group is set to move its proposed Rs 40,000-crore electric vehicle (EV) and battery project from Odisha to Maharashtra, the state government on Tuesday said the company is yet to take a final decision on shifting the project from the state.
"Talks are still ongoing with JSW Group. The decision to leave Odisha has not been finalized yet. Investors make decisions based on their own considerations, and delays can occur due to various reasons. The JSW Group has also faced delays in starting their electric vehicle (EV) project," Industries Minister Sampad Swain told reporters reacting over the development.
According to a report by Mint, the JSW Group has decided to relocate its electric vehicle (EV) and battery project from Odisha to Maharashtra, seven months after formalising an agreement with the previous Biju Janata Dal government under Naveen Patnaik.
The conglomerate is now looking at Aurangabad and Nagpur in Maharashtra for its EV and related projects, the news report said.
In February this year, the JSW Group entered into a memorandum of understanding (MoU) with the Odisha government to set up EV and battery manufacturing facilities at Naraj in Cuttack with an investment of Rs 25,000 crore and an EV components manufacturing complex at Paradip in Jagatsinghpur district with an investment of Rs 15,000 crore.
The planned manufacturing operations included electric vehicles, a 50 GWh battery plant, electric powertrains, a lithium refinery, and various related production units.
Meanwhile, the company has issued a clarification stating that it is not withdrawing from Odisha.
Jindal's JSW is not withdrawing Rs 40,000 crore EV manufacturing project from Odisha, the firm said in a press statement on Tuesday.
