Capt G R Gopinath’s logistics venture, Deccan Express Logistics, has signed an agreement with GMR Group to develop modern express cargo hubs in Hyderabad and Delhi airports. These hubs will be developed in GMR Hyderabad International Airport Ltd and Delhi International Airport Pvt Ltd (DIAL) which are being constructed by GMR.
The agreements are expected to become operational by January 1, 2009 and shift to the proposed Integrated Express Terminal at both the airports when ready. Till that time Deccan Express will utilise the cargo terminal operated by Hyderabad Menzies Air Cargo Pvt Ltd, which is a joint venture between GMR Hyderabad International Airport and Menezies Aviation Plc.
Deccan Express plans to use the the 2,000 sq mt Delhi Airport facility as a hub for its north india operations and the 300 sq mt Hyderabad facility as hub of its central and southern region operations. “The setting up of infrastructure at these strategic locations will enable Deccan Express Logistics to establish an extensive state of the art multimodal (surface and air) storage, transportation and delivery network reaching out to every corner of the country,” said Gopinath, in a release.
Gopinath is also planning to raise $50 million for his new venture and has given the mandate to Edelweiss Capital to raise these funds. It was also reported that Gopinath was planning to acquire Bangalore-headquartered cargo company Crescent Air Cargo. Jude Fonseka who has had 21-years of experience in FedEx has been appointed CEO of Deccan Cargo and the company has hired 60 people.
The company has selected Nagpur as its cargo hub and will be spending $100 million to set up this facility. Gopinath has just signed an MoU with the Maharashtra Airport Development Company to set up a 50 acre warehousing facility at the B R Ambedkar Airport in the city.