Patel Integrated Logistics (PILL) has teamed up with Saudi Arabia’s renowned Nationwide Group to develop a joint venture company -- Pivot Logistics. The joint venture, harnessing the synergies of two leading groups with legacy and experience, has been floated to tap the emerging opportunities in the largely-fragmented logistics sector of GCC and at the same time to add new dimension to the ecosystem.
Under the Memorandum of Understanding (MoU), 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 with in 2-3 years of operation. Further, they are in the process of developing a technology that will grow their network many-fold and ease scalability.
