To float JV
Patel Integrated Logistics (PILL) has teamed up with Saudi Arabia's renowned Nationwide Group to develop Pivot Logistics. Under the Memorandum of Understanding, PILL will share its know how, manpower and technology to set up and manage the end to end operations of the venture. In the innovative collaboration, PILL will not make any capital investment, but will earn 19.85% sweat equity for applying their superior know-how in managing the venture's operations.Pivot Logistics will set up a network of 50+ destinations with operations in warehousing and logistics software to begin with and is expected to generate revenue of around 40 crore annually within 2-3 years of operations. By 2017, the venture will begin operations in Dubai and then across the Gulf countries by 2018, to tap the full potential of the market opportunities arising in the GCC; most notably, the mega Dubai World Expo 2020 and the Qatar 2022 FIFA World Cup.
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