Hapag-Lloyd, a German shipping and container transportation major, has signed a MoU with the Tamil Nadu government to invest ₹2,500 crore for various projects in Thoothukudi and other areas. The MoU was exchanged in Spain, in the presence of CM M.K. Stalin and Industries Minister T.R.B. Raaja, according to a press release. The projects are expected to provide employment for 1,000 people and boost the logistics sector in the state.
The MoU is part of the state’s Logistics Policy 2023, which was unveiled by the CM on Saturday. The policy aims to facilitate the development of a strong logistics infrastructure, reduce the cost of logistics, and leverage private participation in the sector. The policy also offers various fiscal incentives to market participants, operators, and developers in the logistics sector.
The policy also envisages the commencement of container rail services and Kisan rail services on strategic routes, the identification of strategic coastal shipping routes, the reduction of dwell time at air cargo complexes and seaports, the extension of single window clearance for logistics activities, the preparation of a skill plan for the logistics sector, and the exploration of medical and health insurance for heavy vehicle drivers.
The policy’s vision is to promote an integrated, reliable, cost-efficient, and sustainable logistics system in the state to enhance competitiveness and fast-tracked economic development. The policy’s strategic objective is to enable integrated and robust logistics infrastructure development and promote the availability of cost-effective and high-quality services. The policy also aims to adopt new age technologies, enable skill development, and build resilience and sustainability in the logistics eco-system.