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Maharashtra holds off 3 Chinese projects worth Rs 5,000 crore amid India-China standoff

The move comes in the wake of Galwan Valley clash with China on June 15, that killed 20 Indian soldiers.

Maharashtra holds off 3 Chinese projects worth Rs 5,000 crore amid India-China standoff

Mahatarshtra CM Uddhav Thackeray. (File Photo: IANS)

On advise of the Centre, 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 move comes in the wake of Galwan Valley clash with China on June 15, that killed 20 Indian soldiers.

“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,” said state Industry Minister Subhash Desai.

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

The proposed projects entail  an investments of around Rs 5,000 crore in the state.

In the recently held (online) Magnetic Maharashtra 2.0 meet, the state government had 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.

Maharashtra has signed around nine other MoUs with companies from the US, South Korea, Singapore and various domestic entities, with huge employment generation potential, apart from Chinese firms.

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