Maharashtra government has signed a memorandum of understanding with 12 companies from different countries including USA, China, Singapore, and South Korea worth Rs 16,000 crore. These companies are from multiple sectors like banking, engineering, logistics, mobile production, and automobile.

Among 12 companies, 3 companies are from China and the investment of these three Chinese companies altogether is over rupees 5000 crores. 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 wall Motors will set up an automobile company with an investment of Rs 3,770 crore.