Reliance Logistics Pvt Ltd (RLPL) has joined hands with Container Corporation of India Ltd (CONCOR) to form a joint venture to provide logistics solution to its customers.
The joint venture company - Infinite solutions - formed by RLPL, an associate company of Reliance Industries, and CONCOR, would provide comprehensive rail-road-sea solutions to manufacturers, traders, retailers and a variety of different industries, RLPL said in a statement.
Infinite Solutions would provide trucks, warehousing and material handling equipment assets. It would also provide customised and standard containerised transportation by road and rail, distribution and related ancillary services.
RLPL will have 51 per cent share while CONCOR will have 49 per cent stake in the joint venture company.
India's logistics business, estimated at more than Rs 4.5 trillion, is expected to grow at more than 15 per cent over the next decade.
Logistics business contributes 12-13 per cent share to the GDP which gives Infinite Solutions a unique opportunity to participate in the growth story, it added.
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Source: ET
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