The JSW Group has denied reports claiming it plans to withdraw its proposed Rs 40,000 crore electric vehicle (EV) and battery project from Odisha. A senior company official confirmed on Tuesday that the group remains committed to its investment in the state.

The statement came in response to media reports suggesting that JSW was considering relocating the project to Maharashtra. Addressing these reports, Ranjan Nayak, Executive Vice President of Corporate Strategy at JSW Group, clarified, “We are not withdrawing from Odisha.” He emphasized that the company remains focused on moving forward with the project as planned.

The proposed investment, one of the largest in the EV and battery manufacturing sector in India, is expected to boost Odisha’s industrial landscape significantly. The project aims to establish a state-of-the-art manufacturing facility for electric vehicles and batteries, generating thousands of jobs and contributing to the state’s economy.

The clarification from JSW Group comes as a relief to state officials and stakeholders who view the project as a crucial step in Odisha’s journey toward becoming an industrial hub for emerging technologies.

Odisha’s government officials also reaffirmed their support for the JSW Group’s venture, emphasizing that they are working closely with the company to ensure the project’s smooth execution.

JSW’s reassurance underscores its commitment to contributing to Odisha’s industrial growth, despite rumors of a potential shift. The group’s investment is seen as pivotal for positioning Odisha at the forefront of India’s EV revolution.