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| Edited By: |Source: PTI |Updated: Mar 17, 2018, 03:39 AM IST
Japanese major, Mitsubishi Heavy Industries (MHI), has agreed to license its crane and material handling equipment technology for large-scale ports, including container cranes, to Anupam Industries, India's largest overhead crane builder.
MHI and Anupam are also considering floating a joint venture in India soon with an aim to capture India's rapidly expanding market and also to seek to develop markets in Asia, the Middle-East and Africa.
"Under our agreement with MHI the licensed products will be sold in the Indian market only. MHI will provide Anupam with technology-licensing for quayside cranes such as container cranes and transfer cranes, material handling systems such as loaders and unloaders, and steel plant logistics systems," Anupam industries' Managing Director, Mehul Patel, told PTI here.
"With our new joint venture in India we intend to accelerate business expansion in these regions in a quest to boost the overall ratio of overseas sales," Mitsubishi Heavy Industries' Senior Vice President, Yoichi Kujirai, said.
MHI is also mulling the establishment of a production base in India to accommodate demand if business expands as expected, and to expand sales channels for India.
"We have plans to become a leading player in heavy machinery product manufacturing market in India," Kujirai said.
Currently, Indian heavy machinery market stood at $500-million.
MHI and Anupam are already collaborating in several business negotiations within India. The geographical areas of collaboration will be progressively expanded to the entire Asian region, the Middle-East and Africa, Kujirai said.
