Japanese auto major Mitsubishi Heavy Industries (MHI) has agreed to licence its crane and material handling equipment technology for large-scale ports to Anupam Industries, India's largest overhead crane builder.
"Under our agreement with MHI the licensed products will be sold in the Indian market only. MHI will provide Anupam with technology-licencing 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.
MHI and Anupam Industries are also considering floating a joint venture in India soon to capture the country's rapidly expanding market and expand footprints in Asia, the Middle East and Africa.
"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 establishment of a production base in India to accommodate demand if business expands as expected.
"We have plans to become a leading player in heavy machinery product manufacturing market in India," Kujirai said.
At present, 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.
