German shipping and container transportation major Hapag-Lloyd has signed a memorandum of understanding with Tamil Nadu government for an investment commitment of Rs 2,500 crore for a few projects in Thoothukudi and other parts of the state.

This investment is expected to provide employment to 1,000 people. The pact was signed in the presence of CM MK Stalin and Industries Minister TRB Rajaa who are in Spain.

Jesper Kanstrup, managing director, and Albert Lorente, director of Hapag-Lloyd, called on Stalin on January 31 and held discussions on making investments in Tamil Nadu.

As per the MoU, container freight stations and logistic facilities will come up in Thoothukudi.

The Chief Minister is currently on a visit to Spain to attract investments to Tamil Nadu as part of his efforts to make the state a one trillion US dollar economy by 2030.

Hapag-Llyod's Director Albert Lorente and Tamil Nadu Industries Minister T R B Rajaa were among those present when the pact was inked.