"Tamil Nadu Government Signs Agreement with Hapag-Lloyd for Establishment of Container Terminals"

The Tamil Nadu government has successfully garnered a commitment from German container shipping company Hapag-Lloyd to invest Rs. 2,500 crore for the development of container terminals and logistics parks in Thoothukudi and other regions of the state, as announced on Thursday.

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

As part of Chief Minister M K Stalin's ongoing efforts to transform Tamil Nadu into a one trillion US dollar economy by 2030, he is currently on a visit to Spain to attract investments to the state. The signing ceremony included the presence of Hapag-Lloyd's Director Albert Lorente and Tamil Nadu Industries Minister T R B Rajaa.

Recognizing the crucial role of efficient freight transport in facilitating widespread industrial development in Tamil Nadu, the government has been actively working on various 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 the sector, known as the Logistics Policy 2023. During discussions with Hapag-Lloyd's top executives, Chief Minister Stalin highlighted the investment opportunities in Tamil Nadu, leading to the commitment from the company to establish logistics facilities in Thoothukudi and various parts of the state with an investment of Rs. 2,500 crore.

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

ET