Business Nov. 14, 2011 - 06:28AM JST ( 0 )

TOKYO —

Mitsubishi Heavy Industries and Anupam Industries Limited of India have jointly established Anupam-MHI Industries Limited, a company to manufacture heavy-duty material handling equipment, including quayside container cranes, in India.

The creation of the new JV is aimed at aggressively exploring India’s fast-growing market, with the Asian and Middle East and Africa markets also in sights, by strengthening business collaboration between MHI and Anupam, to which MHI has already licensed related technologies, and further enhancing the cost competitiveness of their products.

Plans call for the JV to establish two plants respectively overseeing production and assembly of structural components and to commence operation in the first half of 2012, having annual production capacity of 60 units.