Desperate to restart the economy which has taken a hit by coronavirus pandemic, the Maharashtra government on Monday signed MoUs worth Rs 16,000 crore with companies spanning various industries, including two Chinese units, under its "Magnetic Maharashtra 2.0" initiative.

The companies are from diverse sectors like automobile, logistics, banking, engineering and mobile production, a state government official said.

The business pacts were signed by Industries Minister Subhash Desai of the Shiv Sena on behalf of the state government.

"We will facilitate all the companies that are willing to set up their plants in various parts of Maharashtra. They will face no hurdles in setting up their units," said Chief Minister Uddhav Thackeray.

The official said representatives of 12 countries including the USA, China, Singapore and South Korea among others, were present on the occasion.

"The total investment is Rs 16,030 crore. The MOU signing was part of the 'Magnetic Maharashtra 2.0' initiative," he said, adding that it was the first such programme after Thackeray became CM last November.