The Maharashtra government has extended an offer letter to JSW Group for its proposed lithium-ion battery project in Nagpur.
JSW receives offer of a 450-acre plot by Maharashtra Government at the additional Butibori industrial estate, located in the Maharashtra Industrial Development Corporation (MIDC) area.
Along with the land, JSW Group will receive incentives totalling 110 percent of its investment, in the form of a state GST refund.
Investment and Expansion Plans
JSW receives offer of the project will involve an investment of Rs ₹15,000 crore, primarily to establish the lithium-ion battery plant.
Over time, the facility will be expanded to include other product ranges. These batteries will serve various applications. They will power cellphones and support electric vehicles.
Additional Industrial Projects Cleared
The development follows the decision of the cabinet sub-committee on investment. The sub-committee approved seven industrial projects in Vidarbha, Marathwada, and Konkan.
As reported by projectstoday.com, the projects have a total proposed investment of ₹81,000 crore. They are aimed at boosting the state’s industrial growth.
