i Develop Stocks Advisory

Videocon identifies 100 sites for logistics centres Consumer durables major Videocon Industries has identified sites in more than 100 cities for setting up logistics centres under a new joint venture with Japanese firms Mitsui and Hitachi. The joint venture (JV), which is likely to be operational by the third quarter of this year will see Videocon offering its infrastructure for setting up back-up services like warehousing facility, transportation, information management and inventory control, while Mitsui and Hitachi will provide expertise and know-how, sources said. The finer details such as stake-holding in the JV are being worked out, the sources added. When contacted Videocon officials declined to comment. The sources, however, pointed out that work on logistics centres would start very soon with an aim to initially provide back-end support to Videocon's retail business such as Next, the consumer electronics chain; Bolld (cash and carry) and Planet M (music store). Later on, the new JV could provide services to third parties. "The ultimate aim of the JV is to turn the logistics operation from a cost centre to a business centre in itself and offer expertise to third parties," a source said.