DP World signs MoU worth INR 2000 crore with Tamil Nadu Government

Post By : Karvi Rana
Post Date : September 13, 2021
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UAE-based logistics major DP World is investing around INR 2,000 crore in a slew of projects in Tamil Nadu, including setting up of a new container terminal, cold storage and seafood processing zone among other units.

Some of the other projects lined up include a free trade zone with an integrated rail siding, a minor port in the Eastern Coast of Tamil Nadu and inland container depots in Erode, Karur and Tirupur.

“These projects may create employment for 4,500 people (1,500 direct and 3,000 indirect),” a government official said.

DP World has signed a memorandum of understanding with the state government seeking facilitation support required for the projects.

DP World, which is the world’s leading port/terminal operator since its inception in 1972, currently operates at 150 places in the world. The service major commenced its first container terminal in 1997 in India and in 2001, it laid its footprint in Tamil Nadu.

At present, the company with an investment of over $1.2 Billion, is operating six terminals in India at major ports with over 6 million TEU of gross capacity.

Chennai Container Terminal (CCTL) with four berths to handle 1 million TEU containers inside Chennai Port was developed by DP world and commenced operation in 2001.

In Tamil Nadu, DP World also established container freight stations (CFS), cold storage (winter logistics) and third-party logistics warehousing.

It was in September 2019, that the company signed an MoU in UAE with the Government of Tamil Nadu to invest Rs 1000 crore in establishing a free trade warehousing zone (FTWZ) and subsequently, Integrated Chennai Business Park (ICBP) in Vallur, Ponneri Taluk, Tiruvallur District was established over an area of 125 acres. This FTWZ was inaugurated in July 2021.

On Saturday, Tamil Nadu Chief Minister M K Stalin laid the foundation stone for the proposed data centre to be set up by Japanese technology major NTT Global Data Centres and Cloud Infrastructure at an investment of Rs 2,500 crore. The data centre at Ambattur will be spread across 8.25 lakh square feet, the government said in a statement.

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