ABG Heavy Industries to acquire world's largest crane

MUMBAI: ABG Heavy Industries (ABG), one of the largest crane hire companies in the country, has sealed a deal to acquire the world's largest crane with a capacity of 3,200 metric tonne from Terex-Demag GMBH & Co of Germany.

"We have concluded the deal to acquire the world's largest crane having a capacity of 3,200 metric tonne (MT) from Terex-Demag GMBH," ABG Group's Director Saket Agarwal told reporters here on Tuesday.

The crane, acquired for an undisclosed amount, will be used for the entire infrastructure requirements in refineries, petrochemicals, nuclear and bridge construction facilities, Agarwal said.

"India became the third country to receive this mammoth size crane from Terex-Demag, which has received orders for similar size cranes from the Middle East and another Asian country," Terex Cranes' President Steve Filipov said.

ABG is operating, through its subsidiaries, the Kolkata Container Terminal while it has received the Letter of Intent for the Kandla Container Terminal on a BOT basis for 30-years, he said.

"We are also bidding for further major bulk, general cargo and other terminal projects besides looking at participation in more container terminal projects and allied activities," Agarwal said.

"The company has received the licence to operate New Mangalore and Paradip coal terminals. New Mangalore port has become operational since September 2007 while Paradip will become operational from next month," Agarwal said.

Commenting on the company's investment plans, Agarwal said the company needed Rs 300-500 crore to set up container and bulk terminals for each ports.