Oyak Denizcilik ve Liman İşletmeleri A.Ş announced yesterday that it will invest $110 million in an automotive specialization port in Gebze with Japanese partner Nippon Yusen Kaisha (NYK).
With the new investment, Oyak Port will have a shareholding structure in which Oyak owns 55 percent and NYK lays claim to 45 percent.
Oyak General Manager Savaş Erdemir said the investment is an important move for both Turkey and the international logistics industry.
Explaining that the automotive sector broke its all-time monthly export record this March and that it has been maintaining an upward trend for the last 26 months, Erdem said the production and export capacity in the automotive sector has played an important role in this investment decision.
He pointed out that they will commission Turkey's largest port with an annual capacity of 780,000 vehicles and a parking lot of 16,000 vehicles. Additionally, he added that the port will be operational in 2019.
NYK Automotive Group President Koichi Chikaraishi, on the other hand, said they are very happy to be a part of this investment and that they will undertake a long-term cooperation in this regard.
Chikaraishi said they are committed to integrating their logistics services and that they are more than willing to carry out the service they provide to the energy sector and other areas as well.
Referring to the tension between the U.S. and China, he said trade wars have been going on for many years.
"Japan, which exported 6 million vehicles 10 years ago, is now exporting 4 million vehicles. Germany and France have been declining. I think countries such as Turkey will come out better off from the trade wars," he added.