Konecranes signs licensing agreement with Larsen & Toubro for Indian port crane market
Konecranes has entered into a technology licensing agreement with Larsen & Toubro to manufacture and sell port cranes in India.
Finnish crane manufacturer Konecranes has secured a technology licensing agreement with the Indian industrial firm Larsen & Toubro (L&T). The deal is designed to increase the availability of Konecranes' port crane technology within the expanding Indian market.
Under the terms of the agreement, L&T will gain the rights to produce and distribute specific port crane models based on Konecranes designs. This partnership leverages Konecranes’ technical specifications alongside L&T's local manufacturing footprint and established industrial network.
India has been aggressively modernizing its maritime infrastructure, driving demand for heavy-duty lifting equipment. By utilizing a licensing model, Konecranes aims to capture a larger market share by bypassing logistical barriers and capital-intensive barriers to entry, effectively localizing its supply chain.