Japan's NYK to invest in Pertamina's shipping unit
Japanese shipping company NYK has reached a basic agreement to invest in Pertamina International Shipping (PIS), a shipping subsidiary of Indonesian state-owned Pertamina, it said on October 19.
“Through this investment, we plan to enter into a long-term strategic partnership agreement with PIS,” NYK said. “We will cooperate in a wide range of businesses such as the carbon capture and storage business, for which demand is expected to grow, and contribute to the sustainable economic development.”
NYK plans to conclude an investment agreement and complete the deal by the end of this year.