German shipping major to invest ₹2,500 crore in T.N.; Spanish road management firm also expresses interest in investing

German firm Hapag-Lloyd AG exchanged an MoU with the T.N. government in Spain; its projects are expected to provide employment for 1,000 people, as per a press release

The MoU between German firm Hapag-Lloyd AG and the T.N. government was exchanged in Spain, in the presence of CM M.K. Stalin and Industries Minister T.R.B. Raaja, a press release said | Photo Credit: Special Arrangement

German shipping and container transportation major, Hapag-Lloyd AG, has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to invest ₹2,500 crore for various projects in Thoothukudi and other areas.

Hapag-Lloyd AG’s managing director Jesper Kanstrup and director Albert Lorente exchanged the MoU with senior officials of the Tamil Nadu government, in the presence of Tamil Nadu Chief Minister M.K. Stalin in Spain, an official release issued by the T.N. government in Chennai, said on Thursday, February 1, 2024. Tamil Nadu’s Industries Minister T.R.B. Rajaa was also present.

With investments to the tune of ₹2,500 crore in various projects by Hapag-Lloyd in Tamil Nadu, about 1,000 people are expected to get employment, it said.

CM Stalin left for Spain on Saturday, January 27, 2024, where he was told a conference of representatives of industry bodies, investors from major companies and investment agencies

In another event, Abertis’ International and Institutional Relations’ head, Laura Berjano Pérez, met Mr. Stalin, Mr. Rajaa and senior officials. The Madrid-headquartered Abertis works in the area of toll road management.

Abertis has expressed an interest in investing in roads and related infrastructure in Tamil Nadu, the official release said.