Menu
TÜRKÇE

News

Credit facility from Japan for the biggest automotive port of Turkey

Decided for an investment of 110 million dollars with Nippon Yusen Kaisha (NYK Line) in 2018 for the construction of an automotive Ro-Ro port, which is one of the most important needs of Turkey, OYAK has signed a credit contract with the Japan Bank for International Cooperation (JBIC) and MUFG Bank. The contract signed for funding the OYAK Port is expected to create an opportunity for the investments and export operations of the Japanese companies in Turkey.

OYAK Denizcilik ve Liman İşletmeleri A.Ş. has quicken its steps for the construction of Turkey’s biggest automotive port. 44 million dollars of the amount required for a total investment of 110 million dollars will be provided by the Japan Bank for International Cooperation (JBIC), while some part of the remaining amount will be provided by the MUFG Bank (Mitsubishi UFJ Financial Group). This credit contract is expected to lead the way for an increase in the economic cooperation between Turkey and Japan.

OYAK General Manager Süleyman Savaş Erdem: “This contract is an indicator of the confidence of the international financial markets to our country and to OYAK.”

Stating that they have implemented applications that will increase the effectiveness, efficiency and profitability of OYAK and its group companies, OYAK General Manager Süleyman Savaş Erdem said: “We see our country's target to be among the top 10 economies of the world as our own target, and we take our steps according to this vision. Therefore, we are proud with the contract with the JBIC and the MUFG Bank, which are among the most important actors of the international financial markets. In times of global fluctuations, acting fast, agile and flexible is just as important as building the investment processes accurately. So, the contract we signed is an indicator of the confidence to our country and to OYAK. We will continue bringing OYAK to much better positions with the goal of sustainable success.”

Erdem heralded that the port’s construction will be completed in 2020, and told that the OYAK Port will be the center of international automotive logistics traffic. Erdem, “With its standards and capacity, OYAK Port will become one of the leading ports of the world, and will meet the new needs and demands created by the increasing automotive export.”

In the statement made by the Japan Bank for International Cooperation (JBIC), it’s been stated as follows; “This credit is expected to strengthen the relationship between the OYAK Group Companies and the JBIC, as well as to improve the cooperation between the parties to create more opportunities for the investments and export operations of the Japanese companies in various sectors both in Turkey and the world.”