Mitsubishi, Anupam Ind form joint venture for port cranes

Mumbai : Anupam Industries Ltd, a leading crane manufacturing firm has formed a joint venture with Mitsubishi Heavy Industries Ltd (MHI), a diversified Japanese major to manufacture port cranes and material handling equipment (MHE) for domestic and global markets.

Anupam Industries will hold 51 per cent, while MHI's holding will be 49 per cent in the joint-venture firm, Anupam-MHI Industries Ltd. The two partners will invest equity capital of Rs 188 crore in the JV, which is aimed to cater to Indian as well as global markets for port cranes and MHE.

The company will have two manufacturing units at Anand and Mundra in Gujarat, with its head office to be located at Anand, informed Mehul Patel, MD of Anupam Industries and CEO of the JV company in a statement issued on Thursday.