Drillmec of MEIL Group to invest $200 million in Telangana
Drillmec SpA, a subsidiary company of city-based Megha Engineering & Infrastructures Limited (MEIL) group, will be establishing its global manufacturing hub in Hyderabad, Telangana.
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Hyderabad: Drillmec SpA, a subsidiary company of city-based Megha Engineering & Infrastructures Limited (MEIL) group, will be establishing its global manufacturing hub in Hyderabad, Telangana.
Drillmec SpA, a global leader in oil-drilling rigs manufacturing, is planning to invest over $200 million in the upcoming facility for the setting up of the global hub, which would include manufacturing, research and development, and a Centre of Excellence to impart cutting-edge training to people.
Drillmec has entered into a memorandum of understanding (MoU) with the Department of Industries & Commerce, Government of Telangana, for the establishment of Drillmec International Hub for manufacturing oil rigs and ancillary equipment in Telangana.
Simone Trevisani, CEO Drillmec SpA, said, "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. We have already three manufacturing facilities in Italy, USA (Houston), and Belarus. After considering many offers from various countries, we choose Telangana, India, as it has a progressive industrial policy and investor-friendly.
Drillmec SpA is a global leader in design, manufacturing and supply of drilling and workover rigs for onshore and offshore applications as well as a wide range of spare parts for drilling equipment. Drillmec enjoys a worldwide reputation of reliability. It is a reflection of extensive engineering development, timely deliveries and effective after-sale service.
IT and Industries Minister K T Ramarao said: "We feel proud and welcome Drillmec establishes its manufacturing unit in Hyderabad. The State government is committed to making the most industrial progressive state in India. We will hand over the land and fiscal incentives as soon as possible. We are happy to get employment opportunities for the younger generation in the state. We requested Drillmec to bring entire drilling rig ecosystems to Telangana."
Drillmec has historically delivered close to 600 drilling rigs. It has developed many innovative designs and acquired patents globally. The company, which was incorporated under the laws of Italy having its registered office at Podenzano PC, Italy, was acquired by MEIL group in 2020.
