MHA govt signs MoUs with Chinese companies worth Rs 5,000 cr


Maharashtra Govt. has signed MoUs collectively worth Rs 16, 000 crore from three Chinese companies and 12 firms from other countries. The investment of the three Chinese companies is collectively worth over Rs 5,000 crore, an official statement has said.


The MoUs were signed under the “Magnetic Maharashtra 2.0” hours before the violent face-off between Indian and Chinese troops in the Galwan Valley in Ladakh, in which 20 Indian Army personnel were martyred.


All the three Chinese companies- Hengli Engineering, PMI Electro Mobility Solutions JV with Photon and Great Wall Motors will invest in Talegaon in Pune district, the statement has said.


Hengli Engineering will invest Rs 250 crore, PMI will invest Rs 1,000 crore in the auto sector, it said, adding that Great Wall Motors will set up an automobile company with investment of Rs 3,770 crore.


The other countries like the USA, Singapore and South Korea have also signed the MoUs. They are from diverse sectors like automobile, logistics, banking, engineering and mobile production, it has said.