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.”
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NYK plans to conclude an investment agreement and complete the deal by the end of this year.