ABG Heavy Industries was originally promoted as Onaway Carriers Pvt Ltd and was subsequently converted into a public limited company. It was reconverted into a private limited company under the name ABG Heavy Industries Pvt Ltd which later on became public again. Initially started as a heavy crane rental company, over the years, has evolved into a company engaged in plant erection and construction, charter-hire of heavy-duty carrier equipment like cranes, bulk and container handling. It also has successfully executed large-scale mechanical projects, as well as shutdown and turnaround jobs.

ABG Heavy Industries came out with a public issue in Jan.'95 at a premium of Rs 60 to part-finance the deployment of container-handling equipment. It commenced operations with four of the five cranes in Mar.'95.

In 1995-96, the company has executed orders which it had received JNPT for charter hire of container handling equipments. Its 440-MT capacity Krupp model hydraulic telescopic crane has completed several assignments to the full satisfaction of various clients. It has received prestigious plant erection and construction contracts including orders from FACT, Cochin and Indo Gulf Fertilizers, which are being executed.

During 1998-99, ABG Goa Port, a wholly owned subsidiary of the company has signed a licence agreement with Mormugao Port Trust for the construction and operation of two multipurpose bulk cargo berths (5A & 6A) in Mormugao port on Boot basis for a period of 30 years.

The company has secured the contract from M/s Samsung Engineering Company Ltd., for heavy lift erection of equipment of Indian Oil Corporation Ltd., Barauni Refinery including lifts upto 530 MT in a single piece,in 1999-2000.