Maharashtra freezes Rs 5000 crore worth 3 Chinese projects

MAGNETIC MAHARASHTRA 2.0

To draw investments to the State, 12 MoUs worth 16,000 crore were signed on Monday in presence of Chief Minister Uddhav Thackeray.
Representatives of 12 nations, together with China and United States of America, were present on the occasion.
Global companies in the field of engineering, car and spare parts manufacturing, information technology, logistics, chemicals, and food processing signed the MoUs.

Maharashtra freezes Rs 5000 crore worth 3 Chinese projects

Mr. Thackeray, who was in attendance via videoconference, said the government will fulfil its commitment and business houses will face no hurdles to set up industrial units.
“We are thankful to investors for choosing Maharashtra State as their preferred destination. Today, we are signing MoUs (Memorandum of understanding) worth 16000 crore. Projects worth !60,000 are in the pipeline and will be a reality soon,” he said.
The previous government had launched Magnetic Maharashtra with an aim to bring in investments worth Rs 10 lakh crore.

While the then government had claimed to have signed several MoUs, the Opposition at the time had raised questions over the actual investments.
The signing of the MoUs took place just a couple days before the Galwan incident along the Line of Actual Control, where 20 Indian Army personnel were killed in violent clashes with Chinese troops.

Rs 3,770-crore MoU (Memorandum of understanding) with Great Wall Motors (GWM) Great Wall Motors Company Limited is a Chinese automobile manufacturer to set up an automobile plant in Talegaon near Pune.

PMI Electro Mobility (Dharuhera, Haryana) in a joint venture with Foton PMI (China) had announced a Rs 1,000-crore unit that would create 1,500 jobs.

Maharashtra freezes Rs 5000 crore worth 3 Chinese projects

Jiangsu Hengli Hydraulic Co., Ltd for a Rs 250-crore investment as part of its phase II expansion at Talegaon, a project that will generate 150 jobs. “The Maharashtra state government’s view is that a national policy vis-a-vis Chinese companies and products should be declared by the central government.

One state government should not take a decision,

Maharashtra freezes Rs 5000 crore worth 3 Chinese projects

the decision has to be pan-India.
The state government is looking to the Centre to make an announcement in this respect,”
Shiv Sena Member of parliament Sanjay Raut told The Indian Express news.
“The decision has been taken in consultation with the central government.
These were signed prior (to the killing of 20 Indian soldiers on the Indo-China border).

The ministry of external affairs has advised not to sign any further agreements with Chinese companies,”
Said Industry minister Subhash Desai

Maharashtra freezes 3 Chinese projects Maharashtra freezes 3 Chinese projects