Maha govt inks MoUs worth Rs 5,000 cr with three Chinese firms

The investment of the three Chinese companies is collectively worth over Rs 5,000 crore, an official statement has 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 tWall Motors will set up an automobile company with investment of Rs 3,770 crore.

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