The Japan Bank for International Cooperation (JBIC) today said it has signed an accord to provide up to USD 44m in loans to help finance a car logistics terminal project in a port area in Turkey.
In addition to JBIC, MUFG Bank will also provide loans, JBIC said without giving specific details.
The loan will help support construction and operation of the logistics terminal by OYAK NYK Ro-Ro Liman Isletmeleri, a joint venture launched in April 2018 between Japanese shipping operator Nippon Yusen and Turkish port-management company OYAK Denizcilik ve Liman Isletmeleri.
The terminal 8,000 unit capacity terminal will be located in Yarimca port near Istanbul and will offer services such as pre-delivery inspection. A Nippon Yusen spokesperson declined to comment on the size of the project.
JBIC said Turkey is attracting global attention as a manufacturing and export base for automobiles, and auto production in the country is expected to increase steadily.