Nissan to form RI venture

Nissan to form RI venture

TOKYO (Reuter): Nissan Diesel Motor Co Ltd said yesterday it signed an agreement to set up a joint venture, PT Astra Nissan Diesel Indonesia, in Jakarta in July.

Astra Nissan, capitalized at 2.87 billion yen, will be owned 75 percent by PT Astra International, and 12.5 percent each by Nissan Diesel and Marubeni Corp.

It will sell 5,000 heavy trucks, assembled by an Astra Group unit using Nissan Diesel assistance and components, a year, a Nissan Diesel spokesman said, adding that it will also start assembling engines and axles in early 1997. Nissan Diesel is owned 39.8 percent by Nissan Motor Co Ltd.