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Drillmec to Set Up $200mn Oil Rigs Hub in Telangana

Global oil and gas rigs firm Drillmec SpA, the Italian arm of Megha Engineering & Infrastructures Ltd (Meil), has signed a memorandum of understanding with the Telangana government to set up a manufacturing hub for $200 million (approximately Rs. 15 billion) in the outskirts of Hyderabad.

 

Drillmec said the global hub will include a manufacturing facility for oil rigs and ancillary equipment, a research and development centre, and a centre of excellence to impart training in cutting-edge technology.

 

We are interested in future investment in the Hydrogen fuel project in India. The Hyderabad manufacturing hub will focus on rig manufacturing and ancillaries. This facility also sets up the R&D and training centre of excellence," said Simone Trevisani, CEO Drillmec SpA, adding that the company already has three manufacturing facilities in Italy, the US (Houston), and Belarus. "After considering many offers from various countries, we choose Telangana, India, as it has a progressive industrial policy and investor-friendly," he added.

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