National

Tamil Nadu Government Secures Rs 2,500 Crore Investment Commitment From German Firm Hapag-Lloyd For State's Logistics Development

Tamil Nadu secures a significant Rs 2,500 crore investment commitment from Hapag-Lloyd for the development of container terminals and logistics parks, signaling a major stride in the state's infrastructure growth and job creation.

Twitter
M K Stalin Photo: Twitter
info_icon

The Tamil Nadu government has sealed a deal with German container shipping company Hapag-Lloyd, securing an investment commitment of Rs 2,500 crore for the development of container terminals and logistics parks in Thoothukudi and other areas of the state. The Memorandum of Understanding (MoU) was signed in Spain on January 31, with Chief Minister M K Stalin, Hapag-Lloyd Managing Director Jesper Kanstrup, and other officials present.

This investment is anticipated to create job opportunities for around 1,000 people. Chief Minister Stalin, currently in Spain to attract investments to Tamil Nadu, aims to transform the state into a one trillion US dollar economy by 2030.

The signing ceremony in Spain included Hapag-Lloyd's Director Albert Lorente and Tamil Nadu Industries Minister T R B Rajaa. Recognizing the importance of efficient freight transport for industrial development in Tamil Nadu, the state government is actively working on infrastructure development, including the establishment of container ports and logistics parks at the four major ports.

The state has introduced a dedicated policy, Logistics Policy 2023, to further boost the logistics sector. Chief Minister Stalin, during discussions with Hapag-Lloyd's top executives, emphasized the opportunities in Tamil Nadu and sought their investment. The company has proposed to set up logistics facilities in Thoothukudi and other parts of the state with the earmarked investment.

Additionally, Chief Minister Stalin met with Laura Berjano, International and Institutional Relations Head of Abertis, a road infrastructure development company. Discussions focused on enhancing the state's roadways. Despite Tamil Nadu having the highest road density in India and quality road infrastructure, Stalin stressed the need for further improvement to stimulate industrial development.

Stalin urged Abertis to invest more in Tamil Nadu's road infrastructure, and the company has expressed interest in contributing to the development of the state's highway infrastructure.

Advertisement

Advertisement

Advertisement

Advertisement

Advertisement