'Not Cancelled': Maha Govt Clarifies Status of MoUs With 3 Chinese Firms Amid India-China Standoff
'Not Cancelled': Maha Govt Clarifies Status of MoUs With 3 Chinese Firms Amid India-China Standoff
According to an official statement, Desai said the state government is awaiting clear policy decision regarding the projects in the present condition.

The Maharashtra government said on Monday that there will be status quo with regard to MoUs signed with three Chinese companies last week. The projected investment in the state is almost Rs 5,000 crore. They have not been cancelled. But future directions on them are awaited, Maharashtra industries minister Subhash Desai said.

"Status quo will be maintained on the MOUs with the Chinese companies for the moment. This does not mean that they have been rescinded or cancelled. In fact, further developments on the same are awaited," he further clarified.

His office had stated, earlier in the day, that the investments have been frozen. Even at that time, it was clarified that the deals weren't cancelled.

The relationship between India and China has come under severe strain following a violent face-off between the troops of the two countries in the Galwan Valley in Ladakh, in which 20 Indian Army personnel were martyred.

On June 15, as a part of Magnetic Maharashtra 2.0, the state government had signed MoUs worth Rs 16,000 crore, hours before the face-off took place. The deals were signed with companies from 12 different countries, of which three were Chinese.

There will be status quo with regard to the MoUs signed with Hengli Engineering, PMI Electro Mobility Solutions JV with Photon and Great Wall Motors, according to the statement.

The three Chinese companies were to invest in projects in Talegaon, an industrial hub in Pune district, an official statement had said earlier.

According to the statement, Hengli Engineering was to invest Rs 250 crore and PMI Rs 1,000 crore in the auto sector.

The Great Wall Motors was to set up an automobile company with an investment of Rs 3,770 crore.

With PTI inputs

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