Logistics services major DP World will come up with fresh investments to the tune of around Rs 2,000 crore in Tamil Nadu, including setting up of a new container terminal, cold storage and seafood processing zone, among other units.
The other projects lined up include a free trade zone with an integrated rail siding, minor port in the Eastern Coast of Tamil Nadu and inland container depots in Erode, Karur and Tirupur.
These projects may create employment for 4,500 people (1,500 direct and 3,000 indirect). The company has now signed a memorandum of understanding (MoU) with the state government seeking facilitation support required for the projects.
In September 2019, DP World signed an MoU in UAE with the government of Tamil Nadu to invest Rs 1,000 crore in establishing a free trade warehousing zone (FTWZ) and subsequently, Integrated Chennai Business Park (ICBP) in Vallur, Ponneri Taluk, Tiruvallur district established over an area of 125 acre. This FTWZ was inaugurated in July 2021.