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Maharashtra Government suspends Chinese projects worth Rs 5000 crore

Posted Date :   27 June 2020 12:22:38 AM  
The Maharashtra government with the consultation from the Centre has put on hold three
agreements signed with Chinese companies at the recent Magnetic Maharashtra 2.0 investor
meet.
 
The proposed investments cost over Rs 5,000 crore.
 
“The decision has been taken in consultation with the Union government. These were signed
prior to the clash in Galwan valley. The ministry of external affairs has advised not to sign any
further agreements with Chinese companies,” said industry minister Subash Desai.
 
The three agreements signed included a Rs 3,770 crore MoU with Great Wall Motors (GWM)
to set up an automobile plant in Talegaon near Pune.
 
PMI Electro Mobility in a joint venture with Foton (China) had announced a Rs 1,000 crore unit
that would create 1,500 jobs. Another Chinese company was Hengii Engineering for a Rs
250-crore investment as part of its phase II expansion, a project that will generate 150 jobs.
 
The Maharashtra government was to start the economy with Magnetic Maharashtra 2.0. The
government signed a total of 12 agreements which included companies from Singapore, South
Korea, US besides several Indian companies.
 
The decision to freeze the Chinese projects comes due to ongoing dispute at the border.
 
In the all party meeting called by the Prime Minister, Chief Minister Uddhav Thackeray had
expressed his confidence in the Modi administration and said, ” Our government has the
ability to give a befitting reply.. We are all one. This is the feeling. We are with you, PM. We
are with our forces and their families.”




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