Maharashtra signs MoUs with 3 Chinese firms for Rs 5000 cr

Three Chinese firms are among the 12 companies from different countries with which the Maharashtra government has signed MoUs collectively worth Rs 16,000 crore. 

The investment by the three Chinese companies is collectively worth over Rs 5,000 crore, an official statement said.

The MoUs were signed on Monday 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 an investment of Rs 3,770 crore. 

MoUs were also signed with companies from other countries like USA, Singapore and South Korea, in from diverse sectors like automobile, logistics, banking, engineering and mobile production, the statement said.