TN Govt Signs Deal with Hapag-Lloyd for Container Terminals & Logistics Parks

Chennai, Feb 1 (PTI) The Tamil Nadu government has secured 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 parts of the state, the government said on Thursday.
An 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, an official release here said.

The investment is expected ensure employment opposrtunities for 1,000 people.



The Chief Minister is currently on a visit to Spain to attract investments to Tamil Nadu as part of his efforts to make the state a one trillion US dollar economy by 2030.

Hapag-Llyod's Director Albert Lorente and Tamil Nadu Industries Minister T R B Rajaa were among those present when the pact was inked.

Observing that the efficient handling of freight transport is essential for widespread industrial development in Tamil Nadu, the government said it is undertaking various efforts to develop infrastructure such as setting up container ports, logistics parks, etc, at the four major ports in Tamil Nadu.

The state government has already announced a separate policy for this sector -- Logistics Policy 2023 -- the release said.

During meetings with Hapag-Lloyd's top executives, the chief minister highlighted the opportunities in Tamil Nadu, seeking their investment. The company has offered to set up logistics facilities in Thoothukudi and various parts of Tamil Nadu with an investment of Rs. 2,500 crore.

Stalin also called on Laura Berjano, International and Institutional Relations Head of Abertis, a road infrastructure development company, and held a discussion on improving the roadways in the state.

While emphasising that Tamil Nadu has the highest road density in India and boasts of high quality road infrastructure, Stalin said there is still a need to further improve the infrastructure to promote 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.