MH: GWM & other Chinese projects worth Rs. 5000 Cr. on hold

The government of Maharashtra has put on hold proposed investments from Chinese companies to the tune of Rs. 5,000 crore. One of the three Chinese investments that has been frozen is the one by Great Wall Motors (GWM) in a production plant at Talegaon, near Pune.

Earlier this month, GWM had signed a memorandum of understanding (MoU) with the government of Maharashtra to invest US$ 1 billion in a phased manner.

The Chinese carmaker plans to set up at manufacturing unit at Talegaon at an existing facility that was acquired from General Motors. It also plans to set up an R&D centre in Bangalore, which along with the plant, is expected to generate employment for over 3,000 people.

The government has also frozen proposed projects by PMI Electro Mobility (joint venture with China-based Foton) and Hengli Engineering. Both companies had plans to invest Rs. 1,000 crore and Rs. 250 crore respectively.


Driven by india