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Hapag-Lloyd Commits Rs 2,500 Cr in Tamil Nadu Logistics Development

NewsWarehouses
Editorial Team
Author: Editorial Team
1 min.read
Tamil Nadu, Hapag-Lloyd, container terminals, logistics parks, freight transport, industrial development, ports, Logistics Policy 2023

The Tamil Nadu government has successfully secured a commitment from Hapag-Lloyd, a German container shipping company, to invest Rs 2,500 crore in the development of container terminals and logistics parks in Thoothukudi and other parts of the state. The MoU was signed in the presence of Chief Minister M K Stalin, Hapag-Lloyd Managing Director Jesper Kanstrup, and other officials on January 31 in Spain.

This substantial investment is anticipated to generate employment opportunities for 1,000 individuals. Chief Minister Stalin, currently on a visit to Spain, aims to attract investments to Tamil Nadu as part of the state’s goal to become a one trillion US dollar economy by 2030. The signing ceremony involved Hapag-Lloyd’s Director Albert Lorente and Tamil Nadu Industries Minister T R B Rajaa.

Recognising the crucial role of efficient freight transport for widespread industrial development in Tamil Nadu, the government is actively working on developing infrastructure, including container ports and logistics parks, at the state’s four major ports. The government has also introduced a dedicated policy for the sector, known as Logistics Policy 2023.

During discussions with Hapag-Lloyd’s top executives, Chief Minister Stalin highlighted the investment opportunities in Tamil Nadu, leading to the company’s commitment to establishing logistics facilities in Thoothukudi and other parts of the state with a Rs. 2,500 crore investment.

In addition to the agreement with Hapag-Lloyd, Chief Minister Stalin met with Laura Berjano, International and Institutional Relations Head of Abertis, a road infrastructure development company. The discussions focused on enhancing the state’s roadways, despite Tamil Nadu already boasting the highest road density in India and high-quality road infrastructure. Stalin urged Abertis to invest more in Tamil Nadu’s road infrastructure, and the company expressed interest in contributing to the state’s highway infrastructure.

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153 COMMENTS

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