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Thoothukudi may get $10bn Latin American investment amid growing Indo-LAC trade ties
The New Indian Express Chennai
|July 13, 2025
THE port city of Thoothukudi is likely to attract a potential $10 billion investment from a Latin American country in the defence and security sector, amid growing trade ties between India and the Latin American and Caribbean (LAC) region.
The investment is under negotiation and may be formalised through a memorandum of understanding by the end of the year, according to Rajkumar Sharma, President of the Indo Latin American Chamber of Commerce (ILACC). He declined to name the investing country or confirm whether the project is linked to the upcoming Kulasekharapatnam spaceport being developed near Thoothukudi. "This is for national safety and security. I am not authorised to disclose further details," Sharma said on the sidelines of the launch of ILACC's South India Chapter in Chennai.
This story is from the July 13, 2025 edition of The New Indian Express Chennai.
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