NYK buys 25% stake in Indonesia car terminal

NYK has bought the 25% stake in PT. Patimban International Car Terminal (PICT) from Toyota Tsucho Corp.

PICT is 120 km east of Indonesia’ capital Jakarta and as of 2022 was capable of handling 220,000 vehicles a year. Expansion is underway to increase capacity to 600,000 vehicles annually.

NYK noted congestion around Indonesia’s largest port of Tanjung Priok. “In addition, traffic congestion on the roads connecting the port and the Eastern Industrial Park in the eastern part of Jakarta, where many Japanese companies are located, has caused delays in importing and exporting auto parts and finished vehicles. The full-scale operation of the port of Patimban is expected to solve these problems,” NYK said.

Toyota Tsucho remains the largest shareholder in PICT following the stake sale to NYK, owning 34% of the shares in the terminal. Other shareholders are Toyofjui Shipping with a 26% stake and Kamigumi Co with 15%.

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