Maharashtra government puts 3 Chinese projects worth Rs 5,000 crore on hold

Updated: Jun 22, 2020, 13:44 IST | IANS | Mumbai

He added that the Ministry of External Affairs has advised the state government against signing any further agreements with Chinese companies

This picture has been used for representation purpose
This picture has been used for representation purpose

The Maharashtra government has put on hold three major agreements signed with Chinese companies at the recently concluded Magnetic Maharashtra 2.0 investor meet, officials said.

The proposed projects entail investments of around Rs 5,000 crore in the state. "We have taken this decision in consultation with the Central government. These agreements were signed prior to the development on the Indo-China border and killing of 20 Indian soldiers," Industry Minister Subhash Desai said.

He added that the Ministry of External Affairs has advised the state government against signing any further agreements with Chinese companies.

It may be recalled that at the online Magnetic Maharashtra 2.0 meet, the state government signed agreements worth over Rs 16,000 crore with global companies including Chinese groups.

They include a Rs 3,770-crore MoU with the Great Wall Motors to set up an automobile manufacturing unit in Pune' Talegaon and a Rs 1,000-crore in partnership with Foton (China) and PMI Electro Mobility.

Besides, Henglu Engineering made a commitment of Rs 250-crore for the expansion plans at its unit Phase II in Pune.

Apart from China, the state signed around nine other MoUs with companies from the US, South Korea, Singapore and various domestic entities, with huge employment generation potential.

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

Sign up for all the latest news, top galleries and trending videos from Mid-day.com

Subscribe
loading image
This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK