JSW Group plans to establish an integrated steel plant, power plant, port facility, and cement plant in Jagatsinghpur, Odisha, with an investment of INR 65,000 crore. The steel plant will produce 13.2 million tons of steel annually and generate 30,000 jobs. The port and jetty project will handle 52 million tons of cargo annually.
MG Motor India is set to launch its third electric car model this festive season, aiming to strengthen its position in the growing electric vehicle market amidst competition from established and new rivals. The upcoming launch signifies the automaker s focus on expanding its operations in India, especially in the electric vehicle segment. Rajeev Chaba, chairman emeritus of MG Motor India, highlighted the importance of electric vehicles in the Indian market, with expectations that EVs will comprise 15-20% of all passenger vehicles sold by 2030.
"Whenever and wherever JSW Group contemplates making investments, Odisha has always been the top destination in mind," group chairman Sajjan Jindal told ET. "We have already invested ₹30,000 crore here so far and we are committed to invest an additional ₹1,65,000 crore."
JSW Steel and Japan s JFE Steel will jointly invest Rs5,500 crore in a steel plant in India to produce electrical grade grain-oriented steel, the companies stated in separate press releases.