DP World had entered Tamil Nadu in 2001 and developed Chennai Container Terminal (CCTL) with four berths to handle one million TEU containers inside Chennai port and commenced operation in 2001.
World’s leading port and terminal operator, the UAE-based DP World is investing around Rs 2,000 crore for establishing a slew of projects in Tamil Nadu. The projects include a container terminal, cold storage and seafood processing zone, free trade zone with an integrated rail siding, minor port in the Eastern Coast of Tamil Nadu, inland container depots (ICDs) in Erode, Karur and Tiruppur.
The projects are likely to create employment for 4,500 people including 1,500 direct and 3,000 indirect. The company has signed an MoU with the Tamil Nadu government on Saturday seeking the facilitation support required for the projects in the state.
The MoU was signed in the presence of Tamil Nadu chief minister M K Stalin, industry minister Thangam Thennarasu, Rizwan Soomar, MD, DP World Asia, Ranjit Ray, CEO, DP World FTWZ and Ramesh, DP World, FTWZ, Chennai, among other state government officials including the chief secretary.
DP World had entered Tamil Nadu in 2001 and developed Chennai Container Terminal (CCTL) with four berths to handle one million TEU containers inside Chennai port and commenced operation in 2001. Subsequently in Tamil Nadu, DP World also established container freight facilities, cold storage and three PL warehousing.
In September 2019, DP World signed an MoU in UAE with the Tamil Nadu government to invest Rs 1,000 crore to establish a Free Trade Warehousing Zone (FTWZ) and subsequently an Integrated Chennai Business Park (ICBP) at Vallur, Ponneri Taluk, Tiruvallur District was established over an area of 125 acres. This FTWZ was inaugurated on July 20, 2021.
The state industries department is facilitating the project with necessary government approvals, said sources in the government. The Tamil Nadu government has also laid the foundation stone for the data centre park of NTT Global Data Centres of Japan which is coming up at Ambattur in Chennai.
NTT Global Data Centres and Cloud Infrastructure (NTT-Netmagic) had signed the MoU with Guidance Tamil Nadu during February 2021 for setting up a data centre park and a cable landing station and the total investment in this project would be over Rs 2,500 crore.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.
Source link
