23.01.2026

Indian crane deal with S. Korea

Indian heavy equipment manufacturer BEML has signed a memorandum of understanding with HD Korea Shipbuilding & Offshore Engineering and HD Hyundai Samho Heavy Industries - both of which are part of the HD Hyundai group - to develop and manufacture maritime and port cranes in India.

The three companies will jointly design, produce and install the cranes, with manufacturing, training and after sales support based in India.

BEML said: “The move to team up with Hyundai is aligned with India’s Maritime Amrit Kaal Vision 2047, with aspiration to grow India’s port capacity to 10,000 million tonnes per annum. By combining our manufacturing scale and engineering expertise with the advanced capabilities of KSOE and HSHI, we aim to accelerate the modernisation of India’s port operations and maritime infrastructure, reducing import dependence and enabling India to build advanced, energy efficient cranes tailored for the next era of port expansion, shipyard automation and cargo handling.”

The agreement is backed by a financing arrangement with Sagarmala Finance, providing up to ₹10,000 crore (around US$110 million) to establish new crane manufacturing facilities across India.

Previous efforts by international crane manufacturers to enter the Indian port crane market have faced difficulties. Mitsubishi Heavy Industries and Anupam Industries formed a joint venture in 2011, but production facilities were never established, and the company did not emerge as a significant container crane supplier.

Founded in 1964, BEML is a government owned manufacturer under the Ministry of Defence, producing equipment for defence, rail, metro, mining and construction sectors, operating from four main facilities in Bangalore, Kolar Gold Fields, Mysore and Palakkad.