Following MEA's Push, Maharashtra Puts On Hold 3 Investment Agreements Of Over Rs 5,000 Crore With Chinese Companies

Following S Jaishankar led Union Ministry of External Affairs (MEA)'s advisory to not sign any further agreements with Chinese companies, Maharashtra Government has put on hold three recently signed agreements with total proposed investment to the tune of Rs 5,000 crore, reports Times of India.

The three agreements include a Rs 3,770-crore MoU with Great Wall Motors to build an automobile plant in Talegaon near Pune. Another agreement was signed with PMI Electro Mobility which had formed a joint venture (JV) with a Chinese company called Foton to invest Rs 1,000 crore to build a unit which would have created employment opportunities for 1,500 individuals.

The third agreement had been signed with a company called Hengli Engineering which intends to invest Rs 250 crores to expand its existing facility in Talegaon.