The agreement covers licensing for crane and material handling equipment technology for large-scale ports, such as container cranes, transfer cranes, material handling systems and steel plant logistics systems.

This is part of Japanese firm MHI’s plan to target the growing Indian market, and increase its opportunities in Asia, the Middle East and Africa. It said it has plans to develop its arrangement with Anupam by establishing a joint venture company in India, and broaden the geographical reach of the collaboration with Anupam to cover the whole of Asia, the Middle East and Africa.

MHI’s material handling business, which includes cranes, has recently been recording annual sales near JPY20bn, of which overseas sales account for less than 10%. Through collaboration with Anupam, coupled with aggressive marketing activities, MHI said it is looking to increase its overseas sales ratio of cranes closer to 50%.

The company said it is also considering establishing a production base in India to accommodate demand if business expands as expected, and to grow its sales channels for these regions.