InvestorQ : Is it true that the Maharashtra state government has stalled some of the major Chinese projects coming up in the state?
Anu Biswas made post

Is it true that the Maharashtra state government has stalled some of the major Chinese projects coming up in the state?

Answer
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Neelam Naik answered.
3 months ago


Great Wall Motors of China had big plans to build a passenger vehicle factory in India but that has run up against a wall after Maharashtra government suspended the proposals from 3 Chinese companies valued at Rs.5020 crore. The MOU has been kept aside for now. The state awaits a clear policy from the central government in light of Indo-China skirmishes.

The violent clashes between Indian and Chinese armies in Ladakh had left 20 Indian soldiers dead. Meanwhile, the MEA had advised all states not to sign any fresh agreements with Chinese companies due to which these were put on hold. Great Wall was supposed to invest Rs.3770 crore to upgrade its manufacturing facility in Pune.

These agreements were signed as part of the Maharashtra summit wherein Uddhav Thackeray had assured that small and big industries coming to the state will not face any procedural hassles. The state government is likely to sign another Rs.10,000 crore worth of investment deals but the details were not exactly known.