The Tamil Nadu government has successfully garnered a Rs.2,500 crore commitment from German container shipping company Hapag-Lloyd.
Tamil Nadu announced a major investment triumph, securing a commitment of Rs.2,500 crore from renowned German container shipping company Hapag-Lloyd. The Memorandum of Understanding (MoU) was formalised on January 31 in Spain, with Chief Minister M K Stalin, Hapag-Lloyd Managing Director Jesper Kanstrup, and other officials in attendance.
This substantial investment is earmarked for the development of container terminals and logistics parks in Thoothukudi and various parts of Tamil Nadu, with expectations of generating employment opportunities for around 1,000 individuals. The agreement underscores the state’s dedication to enhancing freight transport efficiency, essential for widespread industrial development.
Stalin emphasised Tamil Nadu’s potential during meetings with Hapag-Lloyd’s top executives. The state government, recognising the importance of efficient freight handling, has been actively working on infrastructure development, including container ports and logistics parks at the four major ports in Tamil Nadu.
Highlighting the significance of logistics for industrial growth, Tamil Nadu has already introduced a dedicated policy for the sector—Logistics Policy 2023. The commitment from Hapag-Lloyd aligns with the state’s vision of becoming a one trillion US dollar economy by 2030.
