Reliance Industries Ltd (RIL) on Friday announced that the company would be investing an undisclosed amount in Capt. G.R. Gopinath-led Deccan 360.
This investment is being made a wholly owned subsidiary of RIL. However, Capt. Gopinath, refused to divulge details of the shareholding pattern of the entity and the capital expenditure, while addressing a press conference here.
This investment would help Deccan 360 increase the air and surface network coverage across the country and introduce world-class services and systems to express end-to-end supply chain logistics space in business-to-business and the retail sector, said Capt. Gopinath. Deccan 360 has appointed national service providers on a franchisee model and has already set up over 80 service centres and eight surface hubs to service the operations. It has now deployed eight freighter aircrafts, covering 15 airports, with a fleet of over 300 trucks and 850 vehicles nationwide. It has a capacity of more than 300 tonnes per night by air, with over 60 warehousing hubs, delivering overnight services to 50 cities, all driven by 60 plus franchisee nationwide.
Deccan 360 has integrated a multi-modal capability ensuring clock-work precision in its operations and offers a never before reach, according to Capt. Gopinath, founder of the company Commenting on the initiative, RIL Chairman and Managing Director Mukesh D. Ambani said “we believe that our collaboration with Deccan 360 will see a transformation in the logistics domain in India. I have full faith in Capt. Gopinath and his team to make this a big success. We are sure that this initiative will propel the customer experience to the next level in the logistics domain.”
On the occasion, Capt. Gopinath, Chairman and Managing Director, said, “Deccan 360's strategic partnership with Reliance will enable us to realize our dream faster — a dream of creating world class logistics reach to every nook and corner of India. Our air and surface network would open up backward reaches of India and integrate these with the Metros. We all know that supply chain is the lifeblood of a country's economy.”