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Maharastra Puts 3 Chinese Projects Worth Rs 5,000 Cr On Hold

Mumbai: The Maharashtra authorities has placed on maintain three main agreements signed with Chinese language corporations on the just lately concluded Magnetic Maharashtra investor meet, officers stated.

The proposed initiatives entail investments of round Rs 5,000 crore within 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,” Business Minister Subhash Desai stated.

He added that the Ministry of Exterior Affairs has suggested the state authorities towards signing any additional agreements with Chinese language corporations.

It might be recalled that on the on-line Magnetic Maharashtra meet, the state authorities signed agreements value over Rs 16,000 crore with world corporations together with Chinese language teams.

They embody a Rs 3,770-crore MoU with the Nice Wall Motors to arrange an car manufacturing unit in Pune’ Talegaon and a Rs 1,000-crore in partnership with Foton (China) and PMI Electro Mobility.

Apart from, Henglu Engineering made a dedication of Rs 250-crore for the growth plans at its unit Section II in Pune.

Aside from China, the state signed round 9 different MoUs with corporations from the US, South Korea, Singapore and varied home entities, with big employment technology potential.


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Railways To Terminate Chinese language Firm’s Contract Due To ‘Poor Progress’

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