Mumbai, June 22: Days after signing three Memorandum of Understanding (MoUs) of Rs 5,000 Crores with Chinese companies, Maharashtra's Maha Vikas Aghadhi government had put these projects on hold. All the three projects were signed by CM Uddhav Thackeray-led government on June 17 under the 'Magnetic Maharashtra 2.0' to revive the economy amid COVID-19 pandemic.

Informing about putting the ambitious projects on hold, Industry Minister Subhash Desai had said, as quoted by Times of India, "The decision has been taken in consultation with the Union government. These were signed prior (to the killing of 20 Indian soldiers on the Indo-Chinese border). The ministry of external affairs has advised not to sign any further agreements with the Chinese Companies." Maharashtra Government Inks MoUs Worth Rs 5,000 Crore with Three Chinese Firms.

Under the 'Magnetic Maharashtra 2.0', the state government sighed 3 MoUs with three Chinese companies to invest in Talegaon in Pune district. It included Rs 3,770 crore MoU with Great Wall Motors to set up an automobile plant in Talegaon in Pune, Rs 1,000 crore MoU with PMI Electro Mobility Solutions -- in joint venture JV with Foton, and Sr 250 crore investment by Hengli Engineering as part of its phase-II extension in Talegaon.

It can be stated that te contracts with Chinese firms were put on hold amid the India-Chinese tensions, that grew after 20 Indian soldiers dies at Galwan Valley clash. Along with Chinese firms, Maharashtra government had also signed 12 other MoUs with companies from Singapore, South Korea, United State, besides several Indian companies.

(The above story first appeared on LatestLY on Jun 22, 2020 12:32 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).