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The Tamil Nadu government on Thursday signed an MoU with German shipping company Hapag-Lloyd securing a commitment of ₹2,500 crore investment for the development of container terminals and industrial parks in Thoothukudi and other parts of the state, a government statement said.

The MoU was signed in Spain where chief minister M K Stalin is hosting an investors’ meet.

Stalin said he held productive meetings with Hapag-Lloyd’s MD Jesper Kanstrup and director Albert Lorente, which resulted in the MoU worth ₹2,500 crore investment. “Excited to announce an MoU for cargo terminals and industrial parks, focusing mainly on Thoothukudi and other parts of Tamil Nadu,” Stalin said. He also invited Abertis’ International and Institutional Relations to boost investments for developing road infrastructure in Tamil Nadu, the statement said.

Spanish companies, such as Roca, Gestamp, Gamesa and Urbaser, are operating in Tamil Nadu. A day ago, Roca group pledged an investment of ₹400 crore to expand its functions in Perundurai facility and Global Technical Centre in Sriperumbudur.

Following the two-day Global Investors Meet earlier in January which saw the participation of nine countries, Stalin left for Spain on January 27 and he is scheduled to return on February 7. He is accompanied by industries minister TRB Rajaa and other officials of the department.

During a meeting of business leaders in Madrid on January 29, Stalin spoke of the similarities between the south Indian state and Spain, such as bullfighting in Spain and Jallikattu in the southern state. He invited industrialists to invest in various sectors, highlighting Tamil Nadu’s economic potential and other major investors in the state.

After becoming chief minister in May 2021, Stalin had visited the UAE, Japan and Singapore attracting investment commitments to the tune of ₹7,442 crore.