CHENNAI: Tamil Nadu 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.

An MoU was signed in the presence of Chief Minister MK Stalin, Hapag-Lloyd MD Jesper Kanstrup, and others on January 31 in Spain, said an official release. Hapag-Llyod’s Director Albert Lorente and Industries Minister TRB Rajaa were present.

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

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

Observing that the efficient handling of freight transport is essential for the State’s widespread industrial development, 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 TN.

Stalin is currently visiting Spain to attract investments as part of his efforts to make the State a one trillion US dollar economy by 2030.