Bhubaneswar, Jan 22 The Odisha Cabinet presided over by Chief Minister Naveen Patnaik, on Monday, approved several key proposals including approval of a special incentive package for Electric Vehicle and component manufacturing projects by JSW Group, one of India's largest conglomerates.
As many as 14 proposals related to 12 departments have been approved by the Cabinet during its meeting on Monday.
The state cabinet approved a special incentive package for the Sajjan Jindal-led conglomerate JSW Group's ambitious Electric Vehicle and component manufacturing projects in Naraj, Cuttack, and Paradip.
The company has proposed to invest over Rs 40,000 crores in the said projects which will create more than 11,000 jobs.
"The JSW Group has proposed to set-up an EV & EV Battery Manufacturing Project at Naraj, Cuttack. The one-of-a-kind advanced technology-based Battery Manufacturing project with capacity of 50 Gigawatt-Hour (GWh) will be the world's largest single location project in the sector.
"The company is also planning to set-up an Original equipment manufacturer(OEM) Plant for Electric Vehicles and Components in the same facility in two phases," an official said on Monday.
The company is also planning to set up an EV Components Manufacturing Complex consisting of Copper Smelter along with Lithium Smelter at Paradip in the third phase.
The company proposed to invest Rs 15,000 crore generating employment for more than 7,000 people.
The state cabinet also decided to expand the existing plantation area of coffee 10,000 acres by 10 times during the next 10 years. The government will implement the "Coffee Plantation for Sustainable Livelihoods (CPSL)" scheme in six districts of the state namely Koraput, Rayagada, Kalahandi, Kandhamal, Keonjhar and Gajapati.
The government will encourage Women SHGs for raising coffee nurseries aiming to benefit more than 50,000 farm families.
The scheme will be implemented by the Directorate of Soil Conservation and Watershed Development under the Agriculture and Farmers' Empowerment Department.
"It envisages an expenditure of Rs 1,144 crore from 2022-23 to 2026-27, out of which Rs 567 crore will be met through State Plan and Rs 577 crore will be met through convergence with other Schemes. Beyond the initial period of five years, value addition and marketing aspects will also be included in the scheme," the official added.
The state cabinet in its meeting also approved the turnkey tender of the project construction of 6,952-bedded working women's hostel at seafood park Deras, Khordha with a cost of Rs 329 crore.
Several other key decisions were also taken during the meeting of the state cabinet.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor