TN govt pens 2,500 crore deal with Hapag-Lloyd to set up container terminals and logistics parks

The Tamil Nadu government has inked a Memorandum of Understanding (MoU) with Hapag-Lloyd, in the presence of Chief Minister M K Stalin, Jesper Kanstrup (Managing Director – Area Iberia), and other officials, on January 31 in Spain. According to the agreement, the German container shipping company will make a substantial investment of INR 2,500 crore towards the development of container terminals and logistics parks in Thoothukudi and other regions within the state.

The signed agreement is anticipated to generate employment opportunities for 1,000 individuals, as per the official release. Chief Minister Stalin, who is currently in Spain, is actively seeking investments to propel Tamil Nadu towards achieving a one trillion US dollar economy by 2030.

Present at the signing ceremony were Hapag-Llyod’s Director Albert Lorente and Tamil Nadu Industries Minister T R B Rajaa. Recognizing the pivotal role of efficient freight transport in the widespread industrial development of Tamil Nadu, the government is undertaking initiatives to enhance 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 this sector, known as the Logistics Policy 2023, as mentioned in the release. During discussions with Hapag-Lloyd’s top executives, Chief Minister Stalin highlighted the investment opportunities in Tamil Nadu, resulting in the company’s commitment to establish logistics facilities in Thoothukudi and various parts of the state with a significant investment of Rs. 2,500 crore.

Additionally, Chief Minister Stalin met with Laura Berjano, the International and Institutional Relations Head of Abertis, a road infrastructure development company, to discuss enhancing the state’s roadways. While acknowledging Tamil Nadu’s status as having the highest road density in India and boasting high-quality road infrastructure, Stalin emphasized the ongoing need to further improve infrastructure to foster industrial development.

“The chief minister requested Abertis to invest more in the road infrastructure of Tamil Nadu. Abertis has also expressed interest in investing in Tamil Nadu’s state highway infrastructure,” the release said.

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