Chennai, Feb 2 (KNN) In a significant development for Tamil Nadu's economic landscape, Hapag-Lloyd, a global leader in container shipping, has formalised a strategic partnership with the Tamil Nadu state government.

A memorandum of understanding (MoU) was signed on Wednesday, solidifying the company's commitment to invest Rs 2,500 crore in the region.

The signing ceremony took place in Madrid, Spain, where Hapag-Lloyd's Managing Director, Jesper Kanstrup, and Director, Albert Lorente, met with Tamil Nadu Chief Minister M K Stalin.

During the meeting, Chief Minister Stalin highlighted the promising investment opportunities within the state and urged Hapag-Lloyd to consider Tamil Nadu for its expansion plans.

As per the official release, Hapag-Lloyd intends to utilise the INR 2,500 crore investment to establish state-of-the-art logistic facilities in Tuticorin and various other locations across Tamil Nadu.

This strategic move is expected to create around 1,000 job opportunities and catalyse future industrial growth in the state.

The signing ceremony was witnessed by Chief Minister Stalin and Industries Minister TRB Rajaa.

In a parallel development, Laura Berjano, the Head of International and Institutional Relations at Abertis, a Spain-based high-quality motorway operator, expressed interest in investing in Tamil Nadu.

Chief Minister Stalin emphasised the importance of strengthening road infrastructure to foster industrial development, aligning with the state government's efforts to enhance logistics and container terminal facilities.

Tamil Nadu has been actively working towards bolstering its infrastructure, including the development of container terminals and logistics parks.

The state government unveiled an exclusive logistics policy last year, showcasing its commitment to creating a conducive environment for industrial growth.

This collaboration between Hapag-Lloyd and the Tamil Nadu government marks a significant milestone and is poised to contribute substantially to the state's economic progress by fostering job creation and industrial development.

(KNN Bureau)