Tamil Nadu Scores Big: Hapag-Lloyd Invests Rs. 2,500 Crore in Container Hubs

The Tamil Nadu government has successfully secured a substantial commitment from the renowned German container shipping company, Hapag-Lloyd. The company has pledged an investment of Rs. 2,500 crore for the development of container terminals and logistics parks in Thoothukudi and various regions across the state, according to an official announcement made on Thursday.

The Memorandum of Understanding (MoU) formalizing this strategic partnership was officially signed on January 31 in Spain. The signing ceremony witnessed the presence of Chief Minister M K Stalin, Hapag-Lloyd Managing Director Jesper Kanstrup, and other dignitaries. This significant investment is anticipated to create employment opportunities for approximately 1,000 individuals.

As part of Chief Minister M K Stalin's continuous efforts to propel Tamil Nadu towards becoming a one trillion US dollar economy by 2030, he is presently on a visit to Spain to attract investments to the state. The ceremony also included the participation of Hapag-Lloyd's Director Albert Lorente and Tamil Nadu Industries Minister T R B Rajaa.

Acknowledging the pivotal role of efficient freight transport in fostering widespread industrial development in Tamil Nadu, the government has been actively pursuing various initiatives to bolster infrastructure, including the establishment of container ports and logistics parks at the state's four major ports.

The state government has already introduced a dedicated policy for the sector, known as the Logistics Policy 2023. During discussions with Hapag-Lloyd's top executives, Chief Minister Stalin underscored the investment opportunities in Tamil Nadu, leading to the company's commitment to establish logistics facilities in Thoothukudi and various parts of the state with a substantial investment of Rs. 2,500 crore.

In addition to the agreement with Hapag-Lloyd, Chief Minister Stalin also held discussions with Laura Berjano, the International and Institutional Relations Head of Abertis, a road infrastructure development company. The discussions focused on enhancing the state's roadways, with Stalin emphasizing the imperative to further improve infrastructure to stimulate industrial development. The release highlighted Abertis' expressed interest in investing in Tamil Nadu's state highway infrastructure.

News by Rahul Yelligetti