Turkey’s Oyak Group - owner of the country’s biggest steel producer, Erdemir Group - is to invest in a car logistics terminal in Yarimca port near Istanbul in partnership with Japan’s Nippon Yusen Kaisha (NYK Line).
According to a Reuters report, the investment will be $110 million.
According to NYK press release, Süleyman Savaş Erdem, general manager of OYAK, and Koichi Chikaraishi, NYK representative director and senior managing corporate officer, were on hand for the signing ceremony held in Istanbul on April 5.
NYK will participate in the port's construction, and the new terminal will be the first large terminal that is located in the suburbs of Istanbul and dedicated to finished cars. Operations are scheduled to commence in the middle of 2019, and high quality services such as PDI will be offered.
PDI (pre-delivery inspection) is services for finished vehicles – such as final inspections, repairs, and parts application – before delivery to car dealers.
Making use of OYAK PORT’s business base and NYK’s expertise in automobile transportation and terminal management, the new joint venture will be positioned to respond to demand in an area where finished-car imports and exports are expected to rise.
In accordance with its new medium-term management plan “Staying Ahead 2022 with Digitalization and Green,” the NYK Group seeks to secure stable freight rates by strengthening the company’s auto-logistics businesses and continuing its efforts to provide high quality, competitive services.